{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}R:\WSV2\TBu_AKe\Spatial_NEW\spatial_6_regs_s_2703.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}29 Mar 2023, 11:06:55
{txt}
{com}. 
. cd // display in log 
{res}R:\WSV2\TBu_AKe\Spatial_NEW
{txt}
{com}.                 
.                         ***************************
.                         * run regression: OLS, fe *
.                         ***************************             
.                 
. use spatial_regs_s_monthly, replace             
{txt}
{com}.         
.                         *** Outcome #1 : sales 
.                         
. keep if year == 2014 // no changes. otherwise matrices are wrong in previous.   
{txt}(0 observations deleted)

{com}.         
.         
.                         ***************************
.                         ***** Single Matrix *****
.                         ***************************     
.                 
. 
. ** log and ihs transformations to the untransformed data **
. 
.                 *** outcomes and polar cases (no q indexing needed, only double loop)
. foreach varx of varlist csd L3_sd               ccd L3_cd     {c -(}
{txt}  2{com}. 
.    gen     log_`varx'=log(1+`varx')
{txt}  3{com}.    gen     ihs_`varx'=`varx'+(`varx'^2+1)^0.5
{txt}  4{com}.    replace ihs_`varx'=log(ihs_`varx')
{txt}  5{com}.  {c )-}
{txt}(1 missing value generated)
(415,800 real changes made)
(415,800 real changes made)
(415,800 real changes made)
(415,800 real changes made)

{com}.  
.  
.                 *** spatial variables *** 
. forvalues q = 1(1)8 {c -(} 
{txt}  2{com}.         foreach varx of varlist         S`q'_L3_sd C`q'_L3_sd B`q'_L3_sd S`q'_L3_cd C`q'_L3_cd B`q'_L3_cd       {c -(}
{txt}  3{com}. 
.    gen     log_`varx'=log(1+`varx')
{txt}  4{com}.    gen     ihs_`varx'=`varx'+(`varx'^2+1)^0.5
{txt}  5{com}.    replace ihs_`varx'=log(ihs_`varx')
{txt}  6{com}.         {c )-}
{txt}  7{com}. {c )-}
{txt}(415,800 real changes made)
(415,800 real changes made)
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{com}. 
. 
. 
.                         **********************************************
.                         *****                   Regressions                      *****
.                         **********************************************
. 
.                         
. ***************** OUTCOME SALES LEVEL ****************************
. 
.                 
.                 ******************
.                 *** Fan (S) ******
.                 ******************
. 
.         ** Results for untransformed data **
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  csd    L3_sd   S`q'_L3_sd                                      if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store fe2_S`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.31
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.1097
{txt}{col 51}R-squared{col 67}= {res}    0.5774
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5703
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2644
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  532.3272

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3299554{col 26}{space 2} .1599133{col 37}{space 1}    2.06{col 46}{space 3}0.044{col 54}{space 4} .0085977{col 67}{space 3} .6513132
{txt}{space 4}S1_L3_sd {c |}{col 14}{res}{space 2}-.0253948{col 26}{space 2} .0171701{col 37}{space 1}   -1.48{col 46}{space 3}0.146{col 54}{space 4}-.0598994{col 67}{space 3} .0091099
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 212.6626{col 26}{space 2} 69.16825{col 37}{space 1}    3.07{col 46}{space 3}0.003{col 54}{space 4} 73.66377{col 67}{space 3} 351.6614
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.27
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.1145
{txt}{col 51}R-squared{col 67}= {res}    0.5722
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5651
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2554
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  535.5601

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3686049{col 26}{space 2} .1789277{col 37}{space 1}    2.06{col 46}{space 3}0.045{col 54}{space 4} .0090361{col 67}{space 3} .7281736
{txt}{space 4}S2_L3_sd {c |}{col 14}{res}{space 2}-.0755886{col 26}{space 2} .0733474{col 37}{space 1}   -1.03{col 46}{space 3}0.308{col 54}{space 4}-.2229856{col 67}{space 3} .0718085
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 110.6106{col 26}{space 2} 18.41863{col 37}{space 1}    6.01{col 46}{space 3}0.000{col 54}{space 4} 73.59693{col 67}{space 3} 147.6242
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.10
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.1339
{txt}{col 51}R-squared{col 67}= {res}    0.5687
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5615
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2494
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  537.7307

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3572476{col 26}{space 2} .1749367{col 37}{space 1}    2.04{col 46}{space 3}0.047{col 54}{space 4} .0056991{col 67}{space 3} .7087962
{txt}{space 4}S3_L3_sd {c |}{col 14}{res}{space 2}-.0080144{col 26}{space 2}  .021399{col 37}{space 1}   -0.37{col 46}{space 3}0.710{col 54}{space 4}-.0510173{col 67}{space 3} .0349885
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  96.2924{col 26}{space 2} 24.64897{col 37}{space 1}    3.91{col 46}{space 3}0.000{col 54}{space 4} 46.75845{col 67}{space 3} 145.8264
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      4.73
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0132
{txt}{col 51}R-squared{col 67}= {res}    0.5789
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5718
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2670
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  531.3854

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2}  .358607{col 26}{space 2} .1762543{col 37}{space 1}    2.03{col 46}{space 3}0.047{col 54}{space 4} .0044108{col 67}{space 3} .7128032
{txt}{space 4}S4_L3_sd {c |}{col 14}{res}{space 2} .2529887{col 26}{space 2} .1712016{col 37}{space 1}    1.48{col 46}{space 3}0.146{col 54}{space 4}-.0910537{col 67}{space 3} .5970311
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 80.60056{col 26}{space 2}  23.5315{col 37}{space 1}    3.43{col 46}{space 3}0.001{col 54}{space 4} 33.31224{col 67}{space 3} 127.8889
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.25
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.5688
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5616
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2494
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  537.7168

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3573737{col 26}{space 2} .1748099{col 37}{space 1}    2.04{col 46}{space 3}0.046{col 54}{space 4} .0060801{col 67}{space 3} .7086674
{txt}{space 4}S5_L3_sd {c |}{col 14}{res}{space 2}-.0175459{col 26}{space 2} .0408702{col 37}{space 1}   -0.43{col 46}{space 3}0.670{col 54}{space 4}-.0996777{col 67}{space 3} .0645859
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 96.36607{col 26}{space 2}  23.2709{col 37}{space 1}    4.14{col 46}{space 3}0.000{col 54}{space 4} 49.60143{col 67}{space 3} 143.1307
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.40
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.1011
{txt}{col 51}R-squared{col 67}= {res}    0.5755
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5684
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2611
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  533.5290

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .2859735{col 26}{space 2}  .132001{col 37}{space 1}    2.17{col 46}{space 3}0.035{col 54}{space 4} .0207075{col 67}{space 3} .5512395
{txt}{space 4}S6_L3_sd {c |}{col 14}{res}{space 2} .1027594{col 26}{space 2} .1093173{col 37}{space 1}    0.94{col 46}{space 3}0.352{col 54}{space 4}-.1169218{col 67}{space 3} .3224406
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 78.06466{col 26}{space 2} 39.18447{col 37}{space 1}    1.99{col 46}{space 3}0.052{col 54}{space 4}-.6794688{col 67}{space 3} 156.8088
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.05
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0566
{txt}{col 51}R-squared{col 67}= {res}    0.5735
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5663
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2576
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  534.7844

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2}  .359308{col 26}{space 2} .1742023{col 37}{space 1}    2.06{col 46}{space 3}0.044{col 54}{space 4} .0092352{col 67}{space 3} .7093807
{txt}{space 4}S7_L3_sd {c |}{col 14}{res}{space 2} .1270159{col 26}{space 2} .1067421{col 37}{space 1}    1.19{col 46}{space 3}0.240{col 54}{space 4}-.0874904{col 67}{space 3} .3415222
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 81.53712{col 26}{space 2} 26.44358{col 37}{space 1}    3.08{col 46}{space 3}0.003{col 54}{space 4} 28.39675{col 67}{space 3} 134.6775
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.28
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.1133
{txt}{col 51}R-squared{col 67}= {res}    0.5758
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5687
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2617
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  533.3209

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3483588{col 26}{space 2} .1633825{col 37}{space 1}    2.13{col 46}{space 3}0.038{col 54}{space 4} .0200293{col 67}{space 3} .6766882
{txt}{space 4}S8_L3_sd {c |}{col 14}{res}{space 2} .0278585{col 26}{space 2}  .024845{col 37}{space 1}    1.12{col 46}{space 3}0.268{col 54}{space 4}-.0220695{col 67}{space 3} .0777865
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 61.97817{col 26}{space 2} 48.17567{col 37}{space 1}    1.29{col 46}{space 3}0.204{col 54}{space 4}-34.83447{col 67}{space 3} 158.7908
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
.     ** Results for log transformed data **
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  log_csd    log_L3_sd   log_S`q'_L3_sd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store log_fe2_S`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.46
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8842
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8823
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1587
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7175

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3145672{col 26}{space 2} .0785889{col 37}{space 1}    4.00{col 46}{space 3}0.000{col 54}{space 4} .1566368{col 67}{space 3} .4724976
{txt}log_S1_L3_sd {c |}{col 14}{res}{space 2} .1214645{col 26}{space 2}  .064373{col 37}{space 1}    1.89{col 46}{space 3}0.065{col 54}{space 4} -.007898{col 67}{space 3} .2508269
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.2044176{col 26}{space 2} .4450731{col 37}{space 1}   -0.46{col 46}{space 3}0.648{col 54}{space 4}-1.098825{col 67}{space 3} .6899902
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.91
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8833
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8813
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1520
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7203

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3242704{col 26}{space 2} .0796094{col 37}{space 1}    4.07{col 46}{space 3}0.000{col 54}{space 4} .1642893{col 67}{space 3} .4842515
{txt}log_S2_L3_sd {c |}{col 14}{res}{space 2}  .030524{col 26}{space 2} .0427592{col 37}{space 1}    0.71{col 46}{space 3}0.479{col 54}{space 4}-.0554038{col 67}{space 3} .1164518
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5384287{col 26}{space 2} .0860213{col 37}{space 1}    6.26{col 46}{space 3}0.000{col 54}{space 4} .3655625{col 67}{space 3} .7112949
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     17.37
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8831
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8811
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1505
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7210

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3254211{col 26}{space 2} .0777326{col 37}{space 1}    4.19{col 46}{space 3}0.000{col 54}{space 4} .1692116{col 67}{space 3} .4816306
{txt}log_S3_L3_sd {c |}{col 14}{res}{space 2} -.012188{col 26}{space 2} .0331492{col 37}{space 1}   -0.37{col 46}{space 3}0.715{col 54}{space 4}-.0788038{col 67}{space 3} .0544278
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6310986{col 26}{space 2} .0972662{col 37}{space 1}    6.49{col 46}{space 3}0.000{col 54}{space 4} .4356349{col 67}{space 3} .8265623
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.73
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8848
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8829
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1628
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7157

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3210103{col 26}{space 2} .0797922{col 37}{space 1}    4.02{col 46}{space 3}0.000{col 54}{space 4}  .160662{col 67}{space 3} .4813587
{txt}log_S4_L3_sd {c |}{col 14}{res}{space 2} .0865266{col 26}{space 2} .0523708{col 37}{space 1}    1.65{col 46}{space 3}0.105{col 54}{space 4}-.0187165{col 67}{space 3} .1917697
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5250696{col 26}{space 2} .0724356{col 37}{space 1}    7.25{col 46}{space 3}0.000{col 54}{space 4} .3795048{col 67}{space 3} .6706343
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.73
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8831
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8811
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1504
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7210

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3257541{col 26}{space 2} .0766405{col 37}{space 1}    4.25{col 46}{space 3}0.000{col 54}{space 4} .1717391{col 67}{space 3}  .479769
{txt}log_S5_L3_sd {c |}{col 14}{res}{space 2}-.0129862{col 26}{space 2} .0624478{col 37}{space 1}   -0.21{col 46}{space 3}0.836{col 54}{space 4}-.1384796{col 67}{space 3} .1125073
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6238087{col 26}{space 2} .0917772{col 37}{space 1}    6.80{col 46}{space 3}0.000{col 54}{space 4} .4393754{col 67}{space 3} .8082419
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.07
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8869
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8850
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1780
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7092

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3026285{col 26}{space 2} .0755488{col 37}{space 1}    4.01{col 46}{space 3}0.000{col 54}{space 4} .1508075{col 67}{space 3} .4544495
{txt}log_S6_L3_sd {c |}{col 14}{res}{space 2} .1219808{col 26}{space 2} .0428247{col 37}{space 1}    2.85{col 46}{space 3}0.006{col 54}{space 4} .0359215{col 67}{space 3} .2080402
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3941071{col 26}{space 2} .1016966{col 37}{space 1}    3.88{col 46}{space 3}0.000{col 54}{space 4} .1897402{col 67}{space 3} .5984741
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.09
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8853
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8833
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1663
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7142

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3197069{col 26}{space 2}  .076675{col 37}{space 1}    4.17{col 46}{space 3}0.000{col 54}{space 4} .1656227{col 67}{space 3} .4737911
{txt}log_S7_L3_sd {c |}{col 14}{res}{space 2} .1010758{col 26}{space 2} .0482439{col 37}{space 1}    2.10{col 46}{space 3}0.041{col 54}{space 4}  .004126{col 67}{space 3} .1980256
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4636798{col 26}{space 2} .0788148{col 37}{space 1}    5.88{col 46}{space 3}0.000{col 54}{space 4} .3052955{col 67}{space 3} .6220642
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.98
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8879
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8860
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1856
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7059

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2929766{col 26}{space 2} .0720705{col 37}{space 1}    4.07{col 46}{space 3}0.000{col 54}{space 4} .1481455{col 67}{space 3} .4378077
{txt}log_S8_L3_sd {c |}{col 14}{res}{space 2} .2252715{col 26}{space 2} .0816832{col 37}{space 1}    2.76{col 46}{space 3}0.008{col 54}{space 4}  .061123{col 67}{space 3} .3894201
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .064409{col 26}{space 2} .2213015{col 37}{space 1}    0.29{col 46}{space 3}0.772{col 54}{space 4} -.380313{col 67}{space 3} .5091311
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
.     ** Results for ihs transformed data **
. 
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  ihs_csd    ihs_L3_sd   ihs_S`q'_L3_sd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store ihs_fe2_S`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.91
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0005
{txt}{col 51}R-squared{col 67}= {res}    0.8840
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8821
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1419
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7984

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2962525{col 26}{space 2} .0784198{col 37}{space 1}    3.78{col 46}{space 3}0.000{col 54}{space 4} .1386621{col 67}{space 3} .4538429
{txt}ihs_S1_L3_sd {c |}{col 14}{res}{space 2} .1263402{col 26}{space 2} .0666742{col 37}{space 1}    1.89{col 46}{space 3}0.064{col 54}{space 4}-.0076466{col 67}{space 3} .2603269
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.2208871{col 26}{space 2}  .500224{col 37}{space 1}   -0.44{col 46}{space 3}0.661{col 54}{space 4}-1.226125{col 67}{space 3} .7843506
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.88
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8830
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8810
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1342
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8020

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3068774{col 26}{space 2} .0789232{col 37}{space 1}    3.89{col 46}{space 3}0.000{col 54}{space 4} .1482753{col 67}{space 3} .4654795
{txt}ihs_S2_L3_sd {c |}{col 14}{res}{space 2} .0209328{col 26}{space 2} .0416986{col 37}{space 1}    0.50{col 46}{space 3}0.618{col 54}{space 4}-.0628638{col 67}{space 3} .1047293
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6480205{col 26}{space 2} .0993821{col 37}{space 1}    6.52{col 46}{space 3}0.000{col 54}{space 4} .4483048{col 67}{space 3} .8477363
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.75
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8829
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8809
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1335
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8023

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .307442{col 26}{space 2} .0776995{col 37}{space 1}    3.96{col 46}{space 3}0.000{col 54}{space 4}  .151299{col 67}{space 3}  .463585
{txt}ihs_S3_L3_sd {c |}{col 14}{res}{space 2}-.0092148{col 26}{space 2} .0318427{col 37}{space 1}   -0.29{col 46}{space 3}0.774{col 54}{space 4}-.0732052{col 67}{space 3} .0547756
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7230954{col 26}{space 2} .1092762{col 37}{space 1}    6.62{col 46}{space 3}0.000{col 54}{space 4} .5034966{col 67}{space 3} .9426942
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.63
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8841
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8822
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1425
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7982

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3043338{col 26}{space 2} .0791339{col 37}{space 1}    3.85{col 46}{space 3}0.000{col 54}{space 4} .1453084{col 67}{space 3} .4633593
{txt}ihs_S4_L3_sd {c |}{col 14}{res}{space 2} .0727671{col 26}{space 2} .0473946{col 37}{space 1}    1.54{col 46}{space 3}0.131{col 54}{space 4}-.0224759{col 67}{space 3} .1680101
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6198599{col 26}{space 2} .0841937{col 37}{space 1}    7.36{col 46}{space 3}0.000{col 54}{space 4} .4506663{col 67}{space 3} .7890535
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.06
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8829
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8809
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1336
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8023

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3078798{col 26}{space 2} .0765421{col 37}{space 1}    4.02{col 46}{space 3}0.000{col 54}{space 4} .1540627{col 67}{space 3} .4616968
{txt}ihs_S5_L3_sd {c |}{col 14}{res}{space 2}-.0156137{col 26}{space 2} .0609028{col 37}{space 1}   -0.26{col 46}{space 3}0.799{col 54}{space 4}-.1380025{col 67}{space 3}  .106775
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7218682{col 26}{space 2} .1074736{col 37}{space 1}    6.72{col 46}{space 3}0.000{col 54}{space 4}  .505892{col 67}{space 3} .9378444
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.62
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8858
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8839
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1551
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7923

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .291106{col 26}{space 2} .0760164{col 37}{space 1}    3.83{col 46}{space 3}0.000{col 54}{space 4} .1383452{col 67}{space 3} .4438667
{txt}ihs_S6_L3_sd {c |}{col 14}{res}{space 2}   .10614{col 26}{space 2} .0390176{col 37}{space 1}    2.72{col 46}{space 3}0.009{col 54}{space 4} .0277313{col 67}{space 3} .1845488
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4853658{col 26}{space 2} .1116269{col 37}{space 1}    4.35{col 46}{space 3}0.000{col 54}{space 4}  .261043{col 67}{space 3} .7096885
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.92
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8849
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8830
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1484
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7954

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3029296{col 26}{space 2} .0764513{col 37}{space 1}    3.96{col 46}{space 3}0.000{col 54}{space 4}  .149295{col 67}{space 3} .4565641
{txt}ihs_S7_L3_sd {c |}{col 14}{res}{space 2} .0968304{col 26}{space 2} .0453152{col 37}{space 1}    2.14{col 46}{space 3}0.038{col 54}{space 4}  .005766{col 67}{space 3} .1878947
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .540233{col 26}{space 2} .0818227{col 37}{space 1}    6.60{col 46}{space 3}0.000{col 54}{space 4}  .375804{col 67}{space 3} .7046619
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.86
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8868
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8849
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1625
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7888

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2818626{col 26}{space 2} .0730881{col 37}{space 1}    3.86{col 46}{space 3}0.000{col 54}{space 4} .1349866{col 67}{space 3} .4287386
{txt}ihs_S8_L3_sd {c |}{col 14}{res}{space 2} .2099801{col 26}{space 2} .0792206{col 37}{space 1}    2.65{col 46}{space 3}0.011{col 54}{space 4} .0507803{col 67}{space 3} .3691798
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .1385827{col 26}{space 2} .2394347{col 37}{space 1}    0.58{col 46}{space 3}0.565{col 54}{space 4}-.3425794{col 67}{space 3} .6197448
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
. 
. ***************** OUTCOME Count ****************************
.         
. 
.         ** Results for untransformed data **
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  ccd    L3_cd   S`q'_L3_cd                                      if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store feC_S`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     31.65
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9032
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9016
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3805
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8420

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5333734{col 26}{space 2} .0732931{col 37}{space 1}    7.28{col 46}{space 3}0.000{col 54}{space 4} .3860855{col 67}{space 3} .6806614
{txt}{space 4}S1_L3_cd {c |}{col 14}{res}{space 2} -.034334{col 26}{space 2} .0126143{col 37}{space 1}   -2.72{col 46}{space 3}0.009{col 54}{space 4}-.0596835{col 67}{space 3}-.0089846
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 4.831298{col 26}{space 2} .9940542{col 37}{space 1}    4.86{col 46}{space 3}0.000{col 54}{space 4} 2.833671{col 67}{space 3} 6.828924
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     21.60
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9002
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8986
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3615
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8852

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2}  .552581{col 26}{space 2} .0849223{col 37}{space 1}    6.51{col 46}{space 3}0.000{col 54}{space 4} .3819233{col 67}{space 3} .7232387
{txt}{space 4}S2_L3_cd {c |}{col 14}{res}{space 2} .0905518{col 26}{space 2} .0903145{col 37}{space 1}    1.00{col 46}{space 3}0.321{col 54}{space 4}-.0909421{col 67}{space 3} .2720456
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 1.684129{col 26}{space 2} .4651609{col 37}{space 1}    3.62{col 46}{space 3}0.001{col 54}{space 4} .7493527{col 67}{space 3} 2.618904
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     23.26
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8995
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8978
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3565
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8965

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5602953{col 26}{space 2} .0851662{col 37}{space 1}    6.58{col 46}{space 3}0.000{col 54}{space 4} .3891474{col 67}{space 3} .7314432
{txt}{space 4}S3_L3_cd {c |}{col 14}{res}{space 2}-.0232617{col 26}{space 2} .0546382{col 37}{space 1}   -0.43{col 46}{space 3}0.672{col 54}{space 4}-.1330613{col 67}{space 3} .0865379
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 2.171585{col 26}{space 2} .1872597{col 37}{space 1}   11.60{col 46}{space 3}0.000{col 54}{space 4} 1.795272{col 67}{space 3} 2.547898
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     37.97
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9039
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9023
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3851
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8313

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5661735{col 26}{space 2} .0826449{col 37}{space 1}    6.85{col 46}{space 3}0.000{col 54}{space 4} .4000924{col 67}{space 3} .7322546
{txt}{space 4}S4_L3_cd {c |}{col 14}{res}{space 2} .4085976{col 26}{space 2} .1935495{col 37}{space 1}    2.11{col 46}{space 3}0.040{col 54}{space 4} .0196453{col 67}{space 3} .7975499
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 1.588645{col 26}{space 2} .2272705{col 37}{space 1}    6.99{col 46}{space 3}0.000{col 54}{space 4} 1.131928{col 67}{space 3} 2.045362
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     22.43
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8995
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8978
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3566
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8963

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5617048{col 26}{space 2}  .084724{col 37}{space 1}    6.63{col 46}{space 3}0.000{col 54}{space 4} .3914455{col 67}{space 3} .7319642
{txt}{space 4}S5_L3_cd {c |}{col 14}{res}{space 2} .0421164{col 26}{space 2}  .083703{col 37}{space 1}    0.50{col 46}{space 3}0.617{col 54}{space 4}-.1260911{col 67}{space 3} .2103238
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 2.071861{col 26}{space 2} .1496693{col 37}{space 1}   13.84{col 46}{space 3}0.000{col 54}{space 4} 1.771089{col 67}{space 3} 2.372633
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     46.99
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9073
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9057
{txt}{col 51}Within R-sq.{col 67}= {res}    0.4065
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.7817

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .4320335{col 26}{space 2} .0466095{col 37}{space 1}    9.27{col 46}{space 3}0.000{col 54}{space 4} .3383681{col 67}{space 3} .5256988
{txt}{space 4}S6_L3_cd {c |}{col 14}{res}{space 2} .2121008{col 26}{space 2} .0550456{col 37}{space 1}    3.85{col 46}{space 3}0.000{col 54}{space 4} .1014825{col 67}{space 3} .3227192
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 1.201914{col 26}{space 2} .3018985{col 37}{space 1}    3.98{col 46}{space 3}0.000{col 54}{space 4}  .595226{col 67}{space 3} 1.808601
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     23.93
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8995
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8978
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3564
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8967

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5613202{col 26}{space 2}  .084388{col 37}{space 1}    6.65{col 46}{space 3}0.000{col 54}{space 4} .3917361{col 67}{space 3} .7309043
{txt}{space 4}S7_L3_cd {c |}{col 14}{res}{space 2}-.0077513{col 26}{space 2} .0716721{col 37}{space 1}   -0.11{col 46}{space 3}0.914{col 54}{space 4}-.1517819{col 67}{space 3} .1362792
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 2.141509{col 26}{space 2} .2603128{col 37}{space 1}    8.23{col 46}{space 3}0.000{col 54}{space 4}  1.61839{col 67}{space 3} 2.664627
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     26.74
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9005
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8988
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3631
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8818

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5572983{col 26}{space 2} .0800627{col 37}{space 1}    6.96{col 46}{space 3}0.000{col 54}{space 4} .3964062{col 67}{space 3} .7181903
{txt}{space 4}S8_L3_cd {c |}{col 14}{res}{space 2} .0218229{col 26}{space 2} .0121424{col 37}{space 1}    1.80{col 46}{space 3}0.078{col 54}{space 4}-.0025783{col 67}{space 3} .0462241
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 1.579283{col 26}{space 2} .3184563{col 37}{space 1}    4.96{col 46}{space 3}0.000{col 54}{space 4} .9393207{col 67}{space 3} 2.219245
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
.     ** Results for log transformed data **
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  log_ccd    log_L3_cd   log_S`q'_L3_cd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store log_feC_S`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.02
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9397
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9387
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2538
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2512

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5271679{col 26}{space 2}  .104396{col 37}{space 1}    5.05{col 46}{space 3}0.000{col 54}{space 4} .3173762{col 67}{space 3} .7369595
{txt}log_S1_L3_cd {c |}{col 14}{res}{space 2} .0700226{col 26}{space 2} .0942767{col 37}{space 1}    0.74{col 46}{space 3}0.461{col 54}{space 4}-.1194336{col 67}{space 3} .2594787
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .0586245{col 26}{space 2} .3585184{col 37}{space 1}    0.16{col 46}{space 3}0.871{col 54}{space 4}-.6618453{col 67}{space 3} .7790942
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     17.97
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9398
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9388
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2550
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2510

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5240704{col 26}{space 2} .1056882{col 37}{space 1}    4.96{col 46}{space 3}0.000{col 54}{space 4}  .311682{col 67}{space 3} .7364587
{txt}log_S2_L3_cd {c |}{col 14}{res}{space 2} .0473908{col 26}{space 2} .0544696{col 37}{space 1}    0.87{col 46}{space 3}0.389{col 54}{space 4}-.0620699{col 67}{space 3} .1568515
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2602863{col 26}{space 2} .0599903{col 37}{space 1}    4.34{col 46}{space 3}0.000{col 54}{space 4} .1397312{col 67}{space 3} .3808414
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     19.30
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9397
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9387
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2537
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2512

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5269105{col 26}{space 2} .1042594{col 37}{space 1}    5.05{col 46}{space 3}0.000{col 54}{space 4} .3173934{col 67}{space 3} .7364275
{txt}log_S3_L3_cd {c |}{col 14}{res}{space 2} .0390691{col 26}{space 2} .0649011{col 37}{space 1}    0.60{col 46}{space 3}0.550{col 54}{space 4}-.0913544{col 67}{space 3} .1694927
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2912645{col 26}{space 2} .0682194{col 37}{space 1}    4.27{col 46}{space 3}0.000{col 54}{space 4} .1541725{col 67}{space 3} .4283565
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     26.32
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9403
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9393
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2606
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2500

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5273577{col 26}{space 2} .1033049{col 37}{space 1}    5.10{col 46}{space 3}0.000{col 54}{space 4} .3197588{col 67}{space 3} .7349566
{txt}log_S4_L3_cd {c |}{col 14}{res}{space 2} .0824976{col 26}{space 2} .0560596{col 37}{space 1}    1.47{col 46}{space 3}0.148{col 54}{space 4}-.0301583{col 67}{space 3} .1951535
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2770904{col 26}{space 2} .0277934{col 37}{space 1}    9.97{col 46}{space 3}0.000{col 54}{space 4} .2212374{col 67}{space 3} .3329433
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     19.74
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9397
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9387
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2536
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2512

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5309034{col 26}{space 2} .1003529{col 37}{space 1}    5.29{col 46}{space 3}0.000{col 54}{space 4} .3292366{col 67}{space 3} .7325701
{txt}log_S5_L3_cd {c |}{col 14}{res}{space 2}-.0435243{col 26}{space 2} .0437455{col 37}{space 1}   -0.99{col 46}{space 3}0.325{col 54}{space 4}-.1314341{col 67}{space 3} .0443856
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3331773{col 26}{space 2} .0402183{col 37}{space 1}    8.28{col 46}{space 3}0.000{col 54}{space 4} .2523557{col 67}{space 3} .4139989
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.14
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.9415
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9405
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2757
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2475

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .4879327{col 26}{space 2} .0999171{col 37}{space 1}    4.88{col 46}{space 3}0.000{col 54}{space 4} .2871417{col 67}{space 3} .6887236
{txt}log_S6_L3_cd {c |}{col 14}{res}{space 2} .1473185{col 26}{space 2} .0788084{col 37}{space 1}    1.87{col 46}{space 3}0.068{col 54}{space 4}-.0110529{col 67}{space 3}   .30569
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .1907627{col 26}{space 2} .0866016{col 37}{space 1}    2.20{col 46}{space 3}0.032{col 54}{space 4} .0167302{col 67}{space 3} .3647952
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     17.41
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9396
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9386
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2521
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2515

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2}  .527058{col 26}{space 2}  .105002{col 37}{space 1}    5.02{col 46}{space 3}0.000{col 54}{space 4} .3160486{col 67}{space 3} .7380675
{txt}log_S7_L3_cd {c |}{col 14}{res}{space 2} .0097308{col 26}{space 2} .0560725{col 37}{space 1}    0.17{col 46}{space 3}0.863{col 54}{space 4}-.1029512{col 67}{space 3} .1224127
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3099148{col 26}{space 2} .0383388{col 37}{space 1}    8.08{col 46}{space 3}0.000{col 54}{space 4}   .23287{col 67}{space 3} .3869595
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     18.78
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9414
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9404
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2750
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2476

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .4991711{col 26}{space 2} .1011102{col 37}{space 1}    4.94{col 46}{space 3}0.000{col 54}{space 4} .2959826{col 67}{space 3} .7023597
{txt}log_S8_L3_cd {c |}{col 14}{res}{space 2} .2262455{col 26}{space 2} .0919343{col 37}{space 1}    2.46{col 46}{space 3}0.017{col 54}{space 4} .0414966{col 67}{space 3} .4109943
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.0116934{col 26}{space 2} .1337727{col 37}{space 1}   -0.09{col 46}{space 3}0.931{col 54}{space 4}-.2805197{col 67}{space 3} .2571329
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
.     ** Results for ihs transformed data **
. 
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  ihs_ccd    ihs_L3_cd   ihs_S`q'_L3_cd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store ihs_feC_S`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.62
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.9387
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9377
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2376
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3079

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4932522{col 26}{space 2} .1071003{col 37}{space 1}    4.61{col 46}{space 3}0.000{col 54}{space 4}  .278026{col 67}{space 3} .7084783
{txt}ihs_S1_L3_cd {c |}{col 14}{res}{space 2} .1345566{col 26}{space 2} .1026005{col 37}{space 1}    1.31{col 46}{space 3}0.196{col 54}{space 4}-.0716268{col 67}{space 3} .3407399
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.1758016{col 26}{space 2} .4510756{col 37}{space 1}   -0.39{col 46}{space 3}0.698{col 54}{space 4}-1.082272{col 67}{space 3} .7306688
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.23
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9384
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9374
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2340
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3087

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4950473{col 26}{space 2}  .108524{col 37}{space 1}    4.56{col 46}{space 3}0.000{col 54}{space 4} .2769602{col 67}{space 3} .7131344
{txt}ihs_S2_L3_cd {c |}{col 14}{res}{space 2} .0366496{col 26}{space 2} .0477715{col 37}{space 1}    0.77{col 46}{space 3}0.447{col 54}{space 4}-.0593508{col 67}{space 3}   .13265
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3432761{col 26}{space 2} .0666429{col 37}{space 1}    5.15{col 46}{space 3}0.000{col 54}{space 4} .2093522{col 67}{space 3} .4771999
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.79
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9384
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9374
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2335
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3087

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2}  .496086{col 26}{space 2} .1072693{col 37}{space 1}    4.62{col 46}{space 3}0.000{col 54}{space 4} .2805202{col 67}{space 3} .7116517
{txt}ihs_S3_L3_cd {c |}{col 14}{res}{space 2} .0346451{col 26}{space 2} .0609589{col 37}{space 1}    0.57{col 46}{space 3}0.572{col 54}{space 4}-.0878565{col 67}{space 3} .1571466
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3700258{col 26}{space 2} .0830565{col 37}{space 1}    4.46{col 46}{space 3}0.000{col 54}{space 4} .2031175{col 67}{space 3} .5369341
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     21.04
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9388
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9378
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2384
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3078

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4968667{col 26}{space 2} .1071912{col 37}{space 1}    4.64{col 46}{space 3}0.000{col 54}{space 4}  .281458{col 67}{space 3} .7122754
{txt}ihs_S4_L3_cd {c |}{col 14}{res}{space 2} .0676808{col 26}{space 2}  .050116{col 37}{space 1}    1.35{col 46}{space 3}0.183{col 54}{space 4}-.0330312{col 67}{space 3} .1683928
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3568474{col 26}{space 2}  .035586{col 37}{space 1}   10.03{col 46}{space 3}0.000{col 54}{space 4} .2853347{col 67}{space 3} .4283602
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.70
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9385
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9374
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2341
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3086

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .5014577{col 26}{space 2} .1034552{col 37}{space 1}    4.85{col 46}{space 3}0.000{col 54}{space 4} .2935567{col 67}{space 3} .7093586
{txt}ihs_S5_L3_cd {c |}{col 14}{res}{space 2}-.0465484{col 26}{space 2} .0416298{col 37}{space 1}   -1.12{col 46}{space 3}0.269{col 54}{space 4}-.1302067{col 67}{space 3} .0371099
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .420677{col 26}{space 2} .0498704{col 37}{space 1}    8.44{col 46}{space 3}0.000{col 54}{space 4} .3204588{col 67}{space 3} .5208953
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.24
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.9399
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9389
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2525
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3049

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4680919{col 26}{space 2} .1040198{col 37}{space 1}    4.50{col 46}{space 3}0.000{col 54}{space 4} .2590563{col 67}{space 3} .6771276
{txt}ihs_S6_L3_cd {c |}{col 14}{res}{space 2} .1325887{col 26}{space 2} .0701894{col 37}{space 1}    1.89{col 46}{space 3}0.065{col 54}{space 4}-.0084622{col 67}{space 3} .2736397
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2548651{col 26}{space 2} .1017424{col 37}{space 1}    2.51{col 46}{space 3}0.016{col 54}{space 4} .0504061{col 67}{space 3} .4593241
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.88
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9383
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9373
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2321
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3090

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4967336{col 26}{space 2} .1083317{col 37}{space 1}    4.59{col 46}{space 3}0.000{col 54}{space 4}  .279033{col 67}{space 3} .7144343
{txt}ihs_S7_L3_cd {c |}{col 14}{res}{space 2} .0083193{col 26}{space 2} .0537391{col 37}{space 1}    0.15{col 46}{space 3}0.878{col 54}{space 4}-.0996734{col 67}{space 3} .1163119
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3911739{col 26}{space 2} .0487784{col 37}{space 1}    8.02{col 46}{space 3}0.000{col 54}{space 4} .2931501{col 67}{space 3} .4891977
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.14
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9398
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9388
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2504
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3053

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4756203{col 26}{space 2} .1044682{col 37}{space 1}    4.55{col 46}{space 3}0.000{col 54}{space 4} .2656837{col 67}{space 3}  .685557
{txt}ihs_S8_L3_cd {c |}{col 14}{res}{space 2} .2111871{col 26}{space 2} .0907711{col 37}{space 1}    2.33{col 46}{space 3}0.024{col 54}{space 4} .0287757{col 67}{space 3} .3935986
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .0368607{col 26}{space 2} .1577721{col 37}{space 1}    0.23{col 46}{space 3}0.816{col 54}{space 4}-.2801942{col 67}{space 3} .3539156
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
.                 ********************
.                 ** report results **
.                 ********************
.                 
.                 ******* reghdfe LEVEL w/ country and cell fixed-effects ******
.                                         
. estimates table fe2_S*, b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:fe2_S1} {space 1} {center 12:fe2_S2} {space 1} {center 12:fe2_S3} {space 1} {center 12:fe2_S4} {space 1} {center 12:fe2_S5} {space 1} {center 12:fe2_S6} {space 1} {center 12:fe2_S7} {space 1} {center 12:fe2_S8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 7}L3_sd {c |}{res} {ralign 9:0.3300}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3686}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3572}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3586}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3574}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.2860}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3593}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3484}{lalign 3:**}{txt} {space 1}
{res}{txt}{space 4}S1_L3_sd {c |}{res} {ralign 9:-0.0254}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}S2_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.0756}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}S3_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.0080}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}S4_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.2530}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}S5_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.0175}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}S6_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1028}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}S7_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1270}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}S8_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0279}{lalign 3:}{txt} {space 1}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:212.6626}{lalign 3:***}{txt} {space 1}{res} {ralign 9:110.6106}{lalign 3:***}{txt} {space 1}{res} {ralign 9:96.2924}{lalign 3:***}{txt} {space 1}{res} {ralign 9:80.6006}{lalign 3:***}{txt} {space 1}{res} {ralign 9:96.3661}{lalign 3:***}{txt} {space 1}{res} {ralign 9:78.0647}{lalign 3:*}{txt} {space 1}{res} {ralign 9:81.5371}{lalign 3:***}{txt} {space 1}{res} {ralign 9:61.9782}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.5774}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5722}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5687}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5789}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5688}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5755}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5735}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5758}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2_a} {c |}{res} {ralign 9:0.5703}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5651}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5615}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5718}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5616}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5684}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5663}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5687}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:F} {c |}{res} {ralign 9:2.3123}{lalign 3:}{txt} {space 1}{res} {ralign 9:2.2664}{lalign 3:}{txt} {space 1}{res} {ralign 9:2.0955}{lalign 3:}{txt} {space 1}{res} {ralign 9:4.7319}{lalign 3:}{txt} {space 1}{res} {ralign 9:9.2471}{lalign 3:}{txt} {space 1}{res} {ralign 9:2.4020}{lalign 3:}{txt} {space 1}{res} {ralign 9:3.0473}{lalign 3:}{txt} {space 1}{res} {ralign 9:2.2777}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 134:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
.                 ******* reghdfe LOG w/ country and cell fixed-effects ******
.                                         
. estimates table  log_fe2_S* , b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:log_fe2_S1} {space 1} {center 12:log_fe2_S2} {space 1} {center 12:log_fe2_S3} {space 1} {center 12:log_fe2_S4} {space 1} {center 12:log_fe2_S5} {space 1} {center 12:log_fe2_S6} {space 1} {center 12:log_fe2_S7} {space 1} {center 12:log_fe2_S8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 3}log_L3_sd {c |}{res} {ralign 9:0.3146}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3243}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3254}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3210}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3258}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3026}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3197}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.2930}{lalign 3:***}{txt} {space 1}
{res}{txt}log_S1_L3_sd {c |}{res} {ralign 9:0.1215}{lalign 3:*}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_S2_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0305}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_S3_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.0122}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_S4_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0865}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_S5_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.0130}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_S6_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1220}{lalign 3:***}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_S7_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1011}{lalign 3:**}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_S8_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.2253}{lalign 3:***}{txt} {space 1}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.2044}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5384}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.6311}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.5251}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.6238}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3941}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.4637}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.0644}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.8842}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8833}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8831}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8848}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8831}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8869}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8853}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8879}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2_a} {c |}{res} {ralign 9:0.8823}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8813}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8811}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8829}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8811}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8850}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8833}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8860}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:F} {c |}{res} {ralign 9:9.4593}{lalign 3:}{txt} {space 1}{res} {ralign 9:15.9078}{lalign 3:}{txt} {space 1}{res} {ralign 9:17.3662}{lalign 3:}{txt} {space 1}{res} {ralign 9:11.7307}{lalign 3:}{txt} {space 1}{res} {ralign 9:11.7333}{lalign 3:}{txt} {space 1}{res} {ralign 9:12.0674}{lalign 3:}{txt} {space 1}{res} {ralign 9:15.0912}{lalign 3:}{txt} {space 1}{res} {ralign 9:10.9829}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 134:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
.                 ******* reghdfe IHS w/ country and cell fixed-effects ******
. 
. estimates table  ihs_fe2_S* , b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:ihs_fe2_S1} {space 1} {center 12:ihs_fe2_S2} {space 1} {center 12:ihs_fe2_S3} {space 1} {center 12:ihs_fe2_S4} {space 1} {center 12:ihs_fe2_S5} {space 1} {center 12:ihs_fe2_S6} {space 1} {center 12:ihs_fe2_S7} {space 1} {center 12:ihs_fe2_S8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 3}ihs_L3_sd {c |}{res} {ralign 9:0.2963}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3069}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3074}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3043}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3079}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.2911}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3029}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.2819}{lalign 3:***}{txt} {space 1}
{res}{txt}ihs_S1_L3_sd {c |}{res} {ralign 9:0.1263}{lalign 3:*}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_S2_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0209}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_S3_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.0092}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_S4_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0728}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_S5_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.0156}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_S6_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1061}{lalign 3:***}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_S7_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0968}{lalign 3:**}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_S8_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.2100}{lalign 3:**}{txt} {space 1}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.2209}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.6480}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.7231}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.6199}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.7219}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.4854}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.5402}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.1386}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.8840}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8830}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8829}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8841}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8829}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8858}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8849}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8868}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2_a} {c |}{res} {ralign 9:0.8821}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8810}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8809}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8822}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8809}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8839}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8830}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8849}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:F} {c |}{res} {ralign 9:8.9116}{lalign 3:}{txt} {space 1}{res} {ralign 9:12.8793}{lalign 3:}{txt} {space 1}{res} {ralign 9:14.7458}{lalign 3:}{txt} {space 1}{res} {ralign 9:9.6315}{lalign 3:}{txt} {space 1}{res} {ralign 9:12.0602}{lalign 3:}{txt} {space 1}{res} {ralign 9:10.6238}{lalign 3:}{txt} {space 1}{res} {ralign 9:15.9187}{lalign 3:}{txt} {space 1}{res} {ralign 9:9.8635}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 134:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
. 
.                 ******* reghdfe for product count as outcome *************
. 
. /* 
>                 ******* reghdfe LEVEL w/ country and cell fixed-effects ******
>                                         
> estimates table feC_S*, b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
> 
>                 ******* reghdfe LOG w/ country and cell fixed-effects ******
>                                         
> estimates table  log_feC_S* , b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
> 
>                 ******* reghdfe IHS w/ country and cell fixed-effects ******
> 
> estimates table  ihs_feC_S* , b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
> 
> */ 
. 
.                 ************************
.                 *** 4 corners (C) ******
.                 ************************
.                 
.         ***************** OUTCOME Sales ****************************
. 
.         ** Results for untransformed data **
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  csd    L3_sd   C`q'_L3_sd                                      if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store fe2_C`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      5.07
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0100
{txt}{col 51}R-squared{col 67}= {res}    0.5692
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5620
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2501
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  537.4742

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3586336{col 26}{space 2} .1741981{col 37}{space 1}    2.06{col 46}{space 3}0.045{col 54}{space 4} .0085695{col 67}{space 3} .7086977
{txt}{space 4}C1_L3_sd {c |}{col 14}{res}{space 2} .0405393{col 26}{space 2} .0564714{col 37}{space 1}    0.72{col 46}{space 3}0.476{col 54}{space 4}-.0729442{col 67}{space 3} .1540228
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 91.51514{col 26}{space 2}  21.8238{col 37}{space 1}    4.19{col 46}{space 3}0.000{col 54}{space 4} 47.65857{col 67}{space 3} 135.3717
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.17
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.1249
{txt}{col 51}R-squared{col 67}= {res}    0.5688
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5616
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2494
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  537.7177

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3571196{col 26}{space 2} .1749299{col 37}{space 1}    2.04{col 46}{space 3}0.047{col 54}{space 4} .0055849{col 67}{space 3} .7086543
{txt}{space 4}C2_L3_sd {c |}{col 14}{res}{space 2}-.0129599{col 26}{space 2} .0236105{col 37}{space 1}   -0.55{col 46}{space 3}0.586{col 54}{space 4}-.0604071{col 67}{space 3} .0344872
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 96.77439{col 26}{space 2}  24.7307{col 37}{space 1}    3.91{col 46}{space 3}0.000{col 54}{space 4} 47.07619{col 67}{space 3} 146.4726
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      4.39
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0177
{txt}{col 51}R-squared{col 67}= {res}    0.5762
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5691
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2623
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  533.0902

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3603698{col 26}{space 2} .1757533{col 37}{space 1}    2.05{col 46}{space 3}0.046{col 54}{space 4} .0071803{col 67}{space 3} .7135594
{txt}{space 4}C3_L3_sd {c |}{col 14}{res}{space 2} .1847373{col 26}{space 2} .1331614{col 37}{space 1}    1.39{col 46}{space 3}0.172{col 54}{space 4}-.0828605{col 67}{space 3} .4523352
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 77.95227{col 26}{space 2} 24.09314{col 37}{space 1}    3.24{col 46}{space 3}0.002{col 54}{space 4}  29.5353{col 67}{space 3} 126.3692
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      4.50
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0161
{txt}{col 51}R-squared{col 67}= {res}    0.5744
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5673
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2593
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  534.1725

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3584653{col 26}{space 2} .1759544{col 37}{space 1}    2.04{col 46}{space 3}0.047{col 54}{space 4} .0048717{col 67}{space 3} .7120589
{txt}{space 4}C4_L3_sd {c |}{col 14}{res}{space 2} .1475051{col 26}{space 2} .1249621{col 37}{space 1}    1.18{col 46}{space 3}0.244{col 54}{space 4}-.1036158{col 67}{space 3} .3986259
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  82.0668{col 26}{space 2} 22.79834{col 37}{space 1}    3.60{col 46}{space 3}0.001{col 54}{space 4} 36.25183{col 67}{space 3} 127.8818
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.99
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0005
{txt}{col 51}R-squared{col 67}= {res}    0.5687
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5615
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2494
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  537.7371

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3574153{col 26}{space 2} .1747729{col 37}{space 1}    2.05{col 46}{space 3}0.046{col 54}{space 4} .0061961{col 67}{space 3} .7086345
{txt}{space 4}C5_L3_sd {c |}{col 14}{res}{space 2}-.0044582{col 26}{space 2} .0343876{col 37}{space 1}   -0.13{col 46}{space 3}0.897{col 54}{space 4}-.0735626{col 67}{space 3} .0646462
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 95.86717{col 26}{space 2} 23.36225{col 37}{space 1}    4.10{col 46}{space 3}0.000{col 54}{space 4} 48.91897{col 67}{space 3} 142.8154
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.37
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.1044
{txt}{col 51}R-squared{col 67}= {res}    0.5761
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5691
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2623
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  533.0945

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .2809859{col 26}{space 2} .1325744{col 37}{space 1}    2.12{col 46}{space 3}0.039{col 54}{space 4} .0145676{col 67}{space 3} .5474042
{txt}{space 4}C6_L3_sd {c |}{col 14}{res}{space 2} .1104872{col 26}{space 2} .1165758{col 37}{space 1}    0.95{col 46}{space 3}0.348{col 54}{space 4}-.1237806{col 67}{space 3} .3447551
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 77.84585{col 26}{space 2} 38.95154{col 37}{space 1}    2.00{col 46}{space 3}0.051{col 54}{space 4}-.4302046{col 67}{space 3} 156.1219
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.30
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.1105
{txt}{col 51}R-squared{col 67}= {res}    0.5694
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5622
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2506
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  537.3159

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3565476{col 26}{space 2} .1742187{col 37}{space 1}    2.05{col 46}{space 3}0.046{col 54}{space 4}  .006442{col 67}{space 3} .7066532
{txt}{space 4}C7_L3_sd {c |}{col 14}{res}{space 2} .0549521{col 26}{space 2} .0736162{col 37}{space 1}    0.75{col 46}{space 3}0.459{col 54}{space 4}-.0929853{col 67}{space 3} .2028894
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 90.73821{col 26}{space 2} 25.89821{col 37}{space 1}    3.50{col 46}{space 3}0.001{col 54}{space 4} 38.69382{col 67}{space 3} 142.7826
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}      4.17
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0465
{txt}{col 51}R-squared{col 67}= {res}    0.5687
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5616
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2494
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  537.6735

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3574517{col 26}{space 2} .1750165{col 37}{space 1}    2.04{col 46}{space 3}0.047{col 54}{space 4} .0057429{col 67}{space 3} .7091606
{txt}{space 4}C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} 95.65731{col 26}{space 2} 24.79155{col 37}{space 1}    3.86{col 46}{space 3}0.000{col 54}{space 4} 45.83683{col 67}{space 3} 145.4778
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
.     ** Results for log transformed data **
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  log_csd    log_L3_sd   log_C`q'_L3_sd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store log_fe2_C`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.19
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8838
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8819
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1557
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7187

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3274686{col 26}{space 2} .0781328{col 37}{space 1}    4.19{col 46}{space 3}0.000{col 54}{space 4} .1704548{col 67}{space 3} .4844824
{txt}log_C1_L3_sd {c |}{col 14}{res}{space 2} .0529002{col 26}{space 2} .0351427{col 37}{space 1}    1.51{col 46}{space 3}0.139{col 54}{space 4}-.0177217{col 67}{space 3}  .123522
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5334073{col 26}{space 2} .0694669{col 37}{space 1}    7.68{col 46}{space 3}0.000{col 54}{space 4} .3938084{col 67}{space 3} .6730061
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.52
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8834
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8814
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1526
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7200

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3244414{col 26}{space 2} .0781982{col 37}{space 1}    4.15{col 46}{space 3}0.000{col 54}{space 4} .1672962{col 67}{space 3} .4815865
{txt}log_C2_L3_sd {c |}{col 14}{res}{space 2}    .0381{col 26}{space 2} .0470986{col 37}{space 1}    0.81{col 46}{space 3}0.422{col 54}{space 4}-.0565482{col 67}{space 3} .1327482
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5580519{col 26}{space 2}   .11962{col 37}{space 1}    4.67{col 46}{space 3}0.000{col 54}{space 4} .3176665{col 67}{space 3} .7984372
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.73
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0006
{txt}{col 51}R-squared{col 67}= {res}    0.8844
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8825
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1602
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7168

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3201137{col 26}{space 2} .0767095{col 37}{space 1}    4.17{col 46}{space 3}0.000{col 54}{space 4} .1659602{col 67}{space 3} .4742671
{txt}log_C3_L3_sd {c |}{col 14}{res}{space 2} .0772166{col 26}{space 2}  .048173{col 37}{space 1}    1.60{col 46}{space 3}0.115{col 54}{space 4}-.0195906{col 67}{space 3} .1740239
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4953435{col 26}{space 2} .1111158{col 37}{space 1}    4.46{col 46}{space 3}0.000{col 54}{space 4}  .272048{col 67}{space 3} .7186391
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.57
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0006
{txt}{col 51}R-squared{col 67}= {res}    0.8834
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8814
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1527
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7200

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3242777{col 26}{space 2} .0784522{col 37}{space 1}    4.13{col 46}{space 3}0.000{col 54}{space 4} .1666221{col 67}{space 3} .4819332
{txt}log_C4_L3_sd {c |}{col 14}{res}{space 2} .0418391{col 26}{space 2} .0679229{col 37}{space 1}    0.62{col 46}{space 3}0.541{col 54}{space 4} -.094657{col 67}{space 3} .1783353
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .561418{col 26}{space 2} .1153264{col 37}{space 1}    4.87{col 46}{space 3}0.000{col 54}{space 4} .3296609{col 67}{space 3} .7931752
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.04
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0005
{txt}{col 51}R-squared{col 67}= {res}    0.8834
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8815
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1530
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7199

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3193447{col 26}{space 2} .0799093{col 37}{space 1}    4.00{col 46}{space 3}0.000{col 54}{space 4}  .158761{col 67}{space 3} .4799283
{txt}log_C5_L3_sd {c |}{col 14}{res}{space 2} .0515775{col 26}{space 2}  .061529{col 37}{space 1}    0.84{col 46}{space 3}0.406{col 54}{space 4}-.0720696{col 67}{space 3} .1752247
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5801445{col 26}{space 2}  .071084{col 37}{space 1}    8.16{col 46}{space 3}0.000{col 54}{space 4} .4372958{col 67}{space 3} .7229932
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.95
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8887
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8868
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1910
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7036

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2914201{col 26}{space 2}  .074004{col 37}{space 1}    3.94{col 46}{space 3}0.000{col 54}{space 4} .1427036{col 67}{space 3} .4401367
{txt}log_C6_L3_sd {c |}{col 14}{res}{space 2} .1742513{col 26}{space 2} .0613689{col 37}{space 1}    2.84{col 46}{space 3}0.007{col 54}{space 4} .0509258{col 67}{space 3} .2975768
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3544054{col 26}{space 2}  .114904{col 37}{space 1}    3.08{col 46}{space 3}0.003{col 54}{space 4} .1234971{col 67}{space 3} .5853137
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     17.76
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8857
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8838
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1696
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7128

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3165642{col 26}{space 2} .0781819{col 37}{space 1}    4.05{col 46}{space 3}0.000{col 54}{space 4} .1594517{col 67}{space 3} .4736767
{txt}log_C7_L3_sd {c |}{col 14}{res}{space 2} .1159202{col 26}{space 2} .0633781{col 37}{space 1}    1.83{col 46}{space 3}0.073{col 54}{space 4}-.0114428{col 67}{space 3} .2432832
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4627027{col 26}{space 2} .0774192{col 37}{space 1}    5.98{col 46}{space 3}0.000{col 54}{space 4}  .307123{col 67}{space 3} .6182824
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: log_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     17.20
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8830
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8811
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1502
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7210

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3250576{col 26}{space 2} .0783755{col 37}{space 1}    4.15{col 46}{space 3}0.000{col 54}{space 4} .1675562{col 67}{space 3} .4825591
{txt}log_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .6141831{col 26}{space 2} .0603831{col 37}{space 1}   10.17{col 46}{space 3}0.000{col 54}{space 4} .4928388{col 67}{space 3} .7355275
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
.     ** Results for ihs transformed data **
. 
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  ihs_csd    ihs_L3_sd   ihs_C`q'_L3_sd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store ihs_fe2_C`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.42
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8835
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8816
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1382
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8002

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3091608{col 26}{space 2}  .078088{col 37}{space 1}    3.96{col 46}{space 3}0.000{col 54}{space 4} .1522371{col 67}{space 3} .4660845
{txt}ihs_C1_L3_sd {c |}{col 14}{res}{space 2} .0494403{col 26}{space 2} .0335875{col 37}{space 1}    1.47{col 46}{space 3}0.147{col 54}{space 4}-.0180564{col 67}{space 3} .1169369
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6211737{col 26}{space 2} .0805561{col 37}{space 1}    7.71{col 46}{space 3}0.000{col 54}{space 4} .4592902{col 67}{space 3} .7830573
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.83
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8833
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8814
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1368
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8008

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3064459{col 26}{space 2} .0782158{col 37}{space 1}    3.92{col 46}{space 3}0.000{col 54}{space 4} .1492654{col 67}{space 3} .4636264
{txt}ihs_C2_L3_sd {c |}{col 14}{res}{space 2} .0447826{col 26}{space 2}  .046582{col 37}{space 1}    0.96{col 46}{space 3}0.341{col 54}{space 4}-.0488274{col 67}{space 3} .1383926
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6316659{col 26}{space 2} .1371059{col 37}{space 1}    4.61{col 46}{space 3}0.000{col 54}{space 4} .3561413{col 67}{space 3} .9071905
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.86
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0011
{txt}{col 51}R-squared{col 67}= {res}    0.8839
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8820
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1413
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7987

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3034018{col 26}{space 2} .0766653{col 37}{space 1}    3.96{col 46}{space 3}0.000{col 54}{space 4} .1493372{col 67}{space 3} .4574665
{txt}ihs_C3_L3_sd {c |}{col 14}{res}{space 2} .0688431{col 26}{space 2} .0467238{col 37}{space 1}    1.47{col 46}{space 3}0.147{col 54}{space 4} -.025052{col 67}{space 3} .1627381
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5846339{col 26}{space 2} .1298696{col 37}{space 1}    4.50{col 46}{space 3}0.000{col 54}{space 4} .3236512{col 67}{space 3} .8456167
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.11
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0009
{txt}{col 51}R-squared{col 67}= {res}    0.8830
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8810
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1344
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8019

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3069719{col 26}{space 2} .0783246{col 37}{space 1}    3.92{col 46}{space 3}0.000{col 54}{space 4} .1495727{col 67}{space 3} .4643711
{txt}ihs_C4_L3_sd {c |}{col 14}{res}{space 2} .0271377{col 26}{space 2} .0646933{col 37}{space 1}    0.42{col 46}{space 3}0.677{col 54}{space 4}-.1028684{col 67}{space 3} .1571438
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6680115{col 26}{space 2} .1351377{col 37}{space 1}    4.94{col 46}{space 3}0.000{col 54}{space 4}  .396442{col 67}{space 3} .9395809
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.85
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0011
{txt}{col 51}R-squared{col 67}= {res}    0.8832
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8812
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1357
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8013

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .302346{col 26}{space 2} .0791501{col 37}{space 1}    3.82{col 46}{space 3}0.000{col 54}{space 4} .1432879{col 67}{space 3} .4614042
{txt}ihs_C5_L3_sd {c |}{col 14}{res}{space 2} .0468339{col 26}{space 2} .0592156{col 37}{space 1}    0.79{col 46}{space 3}0.433{col 54}{space 4}-.0721643{col 67}{space 3} .1658322
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6718379{col 26}{space 2} .0831746{col 37}{space 1}    8.08{col 46}{space 3}0.000{col 54}{space 4} .5046922{col 67}{space 3} .8389836
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.62
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8874
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8856
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1673
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7865

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2814817{col 26}{space 2} .0746465{col 37}{space 1}    3.77{col 46}{space 3}0.000{col 54}{space 4} .1314739{col 67}{space 3} .4314894
{txt}ihs_C6_L3_sd {c |}{col 14}{res}{space 2} .1588705{col 26}{space 2} .0582911{col 37}{space 1}    2.73{col 46}{space 3}0.009{col 54}{space 4} .0417301{col 67}{space 3} .2760109
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4349039{col 26}{space 2} .1277229{col 37}{space 1}    3.41{col 46}{space 3}0.001{col 54}{space 4} .1782352{col 67}{space 3} .6915726
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     18.67
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8856
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8837
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1536
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7930

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2999855{col 26}{space 2} .0773709{col 37}{space 1}    3.88{col 46}{space 3}0.000{col 54}{space 4} .1445028{col 67}{space 3} .4554682
{txt}ihs_C7_L3_sd {c |}{col 14}{res}{space 2} .1181389{col 26}{space 2} .0625393{col 37}{space 1}    1.89{col 46}{space 3}0.065{col 54}{space 4}-.0075384{col 67}{space 3} .2438163
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5285897{col 26}{space 2} .0841409{col 37}{space 1}    6.28{col 46}{space 3}0.000{col 54}{space 4} .3595022{col 67}{space 3} .6976773
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: ihs_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     15.40
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8828
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8809
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1333
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8023

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}   .30718{col 26}{space 2} .0782709{col 37}{space 1}    3.92{col 46}{space 3}0.000{col 54}{space 4} .1498887{col 67}{space 3} .4644713
{txt}ihs_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .7081567{col 26}{space 2} .0683596{col 37}{space 1}   10.36{col 46}{space 3}0.000{col 54}{space 4}  .570783{col 67}{space 3} .8455305
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
. ***************** OUTCOME Count ****************************
.         
. 
.         ** Results for untransformed data **
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  ccd    L3_cd   C`q'_L3_cd                                      if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store feC_C`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     24.11
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8998
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8982
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3588
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8913

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5662915{col 26}{space 2} .0835697{col 37}{space 1}    6.78{col 46}{space 3}0.000{col 54}{space 4} .3983519{col 67}{space 3} .7342312
{txt}{space 4}C1_L3_cd {c |}{col 14}{res}{space 2} .1021428{col 26}{space 2} .1051341{col 37}{space 1}    0.97{col 46}{space 3}0.336{col 54}{space 4}-.1091321{col 67}{space 3} .3134178
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 1.911328{col 26}{space 2} .2315003{col 37}{space 1}    8.26{col 46}{space 3}0.000{col 54}{space 4} 1.446111{col 67}{space 3} 2.376545
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     42.06
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8995
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8979
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3570
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8955

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5615181{col 26}{space 2} .0840249{col 37}{space 1}    6.68{col 46}{space 3}0.000{col 54}{space 4} .3926637{col 67}{space 3} .7303724
{txt}{space 4}C2_L3_cd {c |}{col 14}{res}{space 2}-.0510937{col 26}{space 2} .0528642{col 37}{space 1}   -0.97{col 46}{space 3}0.339{col 54}{space 4}-.1573283{col 67}{space 3} .0551409
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 2.233161{col 26}{space 2} .2143052{col 37}{space 1}   10.42{col 46}{space 3}0.000{col 54}{space 4} 1.802498{col 67}{space 3} 2.663823
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     34.47
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9021
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9005
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3736
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8578

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5690431{col 26}{space 2} .0827229{col 37}{space 1}    6.88{col 46}{space 3}0.000{col 54}{space 4} .4028053{col 67}{space 3}  .735281
{txt}{space 4}C3_L3_cd {c |}{col 14}{res}{space 2} .2678509{col 26}{space 2} .1195429{col 37}{space 1}    2.24{col 46}{space 3}0.030{col 54}{space 4} .0276204{col 67}{space 3} .5080813
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  1.49222{col 26}{space 2} .2631409{col 37}{space 1}    5.67{col 46}{space 3}0.000{col 54}{space 4}  .963419{col 67}{space 3} 2.021022
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     24.40
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9003
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8987
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3620
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8842

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5649941{col 26}{space 2} .0841255{col 37}{space 1}    6.72{col 46}{space 3}0.000{col 54}{space 4} .3959377{col 67}{space 3} .7340506
{txt}{space 4}C4_L3_cd {c |}{col 14}{res}{space 2} .1371532{col 26}{space 2}  .087268{col 37}{space 1}    1.57{col 46}{space 3}0.122{col 54}{space 4}-.0382184{col 67}{space 3} .3125248
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 1.843159{col 26}{space 2} .2061171{col 37}{space 1}    8.94{col 46}{space 3}0.000{col 54}{space 4} 1.428951{col 67}{space 3} 2.257367
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     21.77
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8996
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8979
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3571
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8952

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5622827{col 26}{space 2} .0852776{col 37}{space 1}    6.59{col 46}{space 3}0.000{col 54}{space 4} .3909111{col 67}{space 3} .7336544
{txt}{space 4}C5_L3_cd {c |}{col 14}{res}{space 2} .0745295{col 26}{space 2}  .092848{col 37}{space 1}    0.80{col 46}{space 3}0.426{col 54}{space 4}-.1120556{col 67}{space 3} .2611145
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 2.023057{col 26}{space 2} .1784938{col 37}{space 1}   11.33{col 46}{space 3}0.000{col 54}{space 4}  1.66436{col 67}{space 3} 2.381754
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     51.99
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9080
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9065
{txt}{col 51}Within R-sq.{col 67}= {res}    0.4115
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.7701

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2}  .426932{col 26}{space 2} .0439866{col 37}{space 1}    9.71{col 46}{space 3}0.000{col 54}{space 4} .3385375{col 67}{space 3} .5153264
{txt}{space 4}C6_L3_cd {c |}{col 14}{res}{space 2} .2281384{col 26}{space 2} .0524913{col 37}{space 1}    4.35{col 46}{space 3}0.000{col 54}{space 4} .1226532{col 67}{space 3} .3336235
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 1.216229{col 26}{space 2} .2684362{col 37}{space 1}    4.53{col 46}{space 3}0.000{col 54}{space 4} .6767861{col 67}{space 3} 1.755671
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     23.49
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8998
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8982
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3589
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8912

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5559381{col 26}{space 2}  .081344{col 37}{space 1}    6.83{col 46}{space 3}0.000{col 54}{space 4} .3924711{col 67}{space 3}  .719405
{txt}{space 4}C7_L3_cd {c |}{col 14}{res}{space 2} .1051441{col 26}{space 2} .0716172{col 37}{space 1}    1.47{col 46}{space 3}0.148{col 54}{space 4} -.038776{col 67}{space 3} .2490643
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 1.889971{col 26}{space 2}  .212994{col 37}{space 1}    8.87{col 46}{space 3}0.000{col 54}{space 4} 1.461944{col 67}{space 3} 2.317999
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: C8_L3_cd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     43.66
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8994
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8978
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3564
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8964

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5611127{col 26}{space 2} .0849168{col 37}{space 1}    6.61{col 46}{space 3}0.000{col 54}{space 4}  .390466{col 67}{space 3} .7317595
{txt}{space 4}C8_L3_cd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2}  2.12015{col 26}{space 2} .1230283{col 37}{space 1}   17.23{col 46}{space 3}0.000{col 54}{space 4} 1.872915{col 67}{space 3} 2.367384
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
.     ** Results for log transformed data **
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  log_ccd    log_L3_cd   log_C`q'_L3_cd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store log_feC_C`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.69
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9398
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9388
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2552
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2509

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5282716{col 26}{space 2} .1033481{col 37}{space 1}    5.11{col 46}{space 3}0.000{col 54}{space 4} .3205858{col 67}{space 3} .7359573
{txt}log_C1_L3_cd {c |}{col 14}{res}{space 2} .0515312{col 26}{space 2} .0439798{col 37}{space 1}    1.17{col 46}{space 3}0.247{col 54}{space 4}-.0368494{col 67}{space 3} .1399119
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2843063{col 26}{space 2}  .039173{col 37}{space 1}    7.26{col 46}{space 3}0.000{col 54}{space 4} .2055851{col 67}{space 3} .3630274
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.92
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9408
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9399
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2679
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2488

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5180961{col 26}{space 2} .1041291{col 37}{space 1}    4.98{col 46}{space 3}0.000{col 54}{space 4} .3088408{col 67}{space 3} .7273513
{txt}log_C2_L3_cd {c |}{col 14}{res}{space 2}  .142572{col 26}{space 2} .0914241{col 37}{space 1}    1.56{col 46}{space 3}0.125{col 54}{space 4}-.0411516{col 67}{space 3} .3262956
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2248077{col 26}{space 2}  .083616{col 37}{space 1}    2.69{col 46}{space 3}0.010{col 54}{space 4}  .056775{col 67}{space 3} .3928404
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     16.05
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9409
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9399
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2684
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2487

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5247199{col 26}{space 2} .1035396{col 37}{space 1}    5.07{col 46}{space 3}0.000{col 54}{space 4} .3166493{col 67}{space 3} .7327904
{txt}log_C3_L3_cd {c |}{col 14}{res}{space 2} .1217197{col 26}{space 2} .0553909{col 37}{space 1}    2.20{col 46}{space 3}0.033{col 54}{space 4} .0104075{col 67}{space 3} .2330319
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2325995{col 26}{space 2} .0482046{col 37}{space 1}    4.83{col 46}{space 3}0.000{col 54}{space 4} .1357286{col 67}{space 3} .3294703
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     18.58
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9398
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9388
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2552
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2509

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5247459{col 26}{space 2} .1055591{col 37}{space 1}    4.97{col 46}{space 3}0.000{col 54}{space 4} .3126169{col 67}{space 3} .7368748
{txt}log_C4_L3_cd {c |}{col 14}{res}{space 2} .0542009{col 26}{space 2} .0542036{col 37}{space 1}    1.00{col 46}{space 3}0.322{col 54}{space 4}-.0547253{col 67}{space 3} .1631271
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2851669{col 26}{space 2} .0342971{col 37}{space 1}    8.31{col 46}{space 3}0.000{col 54}{space 4} .2162443{col 67}{space 3} .3540894
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     19.24
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9396
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9386
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2520
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2515

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5276828{col 26}{space 2} .1031037{col 37}{space 1}    5.12{col 46}{space 3}0.000{col 54}{space 4} .3204883{col 67}{space 3} .7348774
{txt}log_C5_L3_cd {c |}{col 14}{res}{space 2} .0049582{col 26}{space 2} .0417217{col 37}{space 1}    0.12{col 46}{space 3}0.906{col 54}{space 4}-.0788846{col 67}{space 3}  .088801
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3152162{col 26}{space 2} .0259527{col 37}{space 1}   12.15{col 46}{space 3}0.000{col 54}{space 4} .2630624{col 67}{space 3} .3673701
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.65
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.9424
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9414
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2871
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2455

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .4635347{col 26}{space 2} .0982083{col 37}{space 1}    4.72{col 46}{space 3}0.000{col 54}{space 4} .2661777{col 67}{space 3} .6608917
{txt}log_C6_L3_cd {c |}{col 14}{res}{space 2} .2195357{col 26}{space 2} .1178771{col 37}{space 1}    1.86{col 46}{space 3}0.069{col 54}{space 4}-.0173473{col 67}{space 3} .4564186
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .1670953{col 26}{space 2} .1006298{col 37}{space 1}    1.66{col 46}{space 3}0.103{col 54}{space 4}-.0351279{col 67}{space 3} .3693185
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     24.11
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9404
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9394
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2624
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2497

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5188962{col 26}{space 2} .1029352{col 37}{space 1}    5.04{col 46}{space 3}0.000{col 54}{space 4} .3120402{col 67}{space 3} .7257521
{txt}log_C7_L3_cd {c |}{col 14}{res}{space 2} .1138918{col 26}{space 2} .0831029{col 37}{space 1}    1.37{col 46}{space 3}0.177{col 54}{space 4}-.0531098{col 67}{space 3} .2808934
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .248456{col 26}{space 2} .0442216{col 37}{space 1}    5.62{col 46}{space 3}0.000{col 54}{space 4} .1595894{col 67}{space 3} .3373227
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: log_C8_L3_cd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     25.82
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9396
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9386
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2520
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2514

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5275251{col 26}{space 2} .1038103{col 37}{space 1}    5.08{col 46}{space 3}0.000{col 54}{space 4} .3189104{col 67}{space 3} .7361398
{txt}log_C8_L3_cd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .3171788{col 26}{space 2} .0312441{col 37}{space 1}   10.15{col 46}{space 3}0.000{col 54}{space 4} .2543915{col 67}{space 3} .3799661
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
.     ** Results for ihs transformed data **
. 
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  ihs_ccd    ihs_L3_cd   ihs_C`q'_L3_cd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store ihs_feC_C`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.76
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.9385
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9375
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2348
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3085

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4975748{col 26}{space 2} .1070042{col 37}{space 1}    4.65{col 46}{space 3}0.000{col 54}{space 4} .2825417{col 67}{space 3} .7126078
{txt}ihs_C1_L3_cd {c |}{col 14}{res}{space 2} .0455421{col 26}{space 2} .0419072{col 37}{space 1}    1.09{col 46}{space 3}0.282{col 54}{space 4}-.0386737{col 67}{space 3} .1297578
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3620029{col 26}{space 2} .0512129{col 37}{space 1}    7.07{col 46}{space 3}0.000{col 54}{space 4} .2590867{col 67}{space 3} .4649191
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.61
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.9397
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9387
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2502
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3054

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4876667{col 26}{space 2} .1080694{col 37}{space 1}    4.51{col 46}{space 3}0.000{col 54}{space 4} .2704931{col 67}{space 3} .7048402
{txt}ihs_C2_L3_cd {c |}{col 14}{res}{space 2} .1462988{col 26}{space 2}  .090051{col 37}{space 1}    1.62{col 46}{space 3}0.111{col 54}{space 4}-.0346655{col 67}{space 3} .3272632
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2785508{col 26}{space 2} .1041265{col 37}{space 1}    2.68{col 46}{space 3}0.010{col 54}{space 4} .0693007{col 67}{space 3} .4878009
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.03
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9394
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9384
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2461
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3062

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4944004{col 26}{space 2} .1073683{col 37}{space 1}    4.60{col 46}{space 3}0.000{col 54}{space 4} .2786358{col 67}{space 3}  .710165
{txt}ihs_C3_L3_cd {c |}{col 14}{res}{space 2} .1089668{col 26}{space 2} .0528894{col 37}{space 1}    2.06{col 46}{space 3}0.045{col 54}{space 4} .0026816{col 67}{space 3} .2152519
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3028335{col 26}{space 2} .0613303{col 37}{space 1}    4.94{col 46}{space 3}0.000{col 54}{space 4} .1795855{col 67}{space 3} .4260814
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.70
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9385
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9375
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2346
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3085

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4944562{col 26}{space 2} .1089461{col 37}{space 1}    4.54{col 46}{space 3}0.000{col 54}{space 4} .2755209{col 67}{space 3} .7133916
{txt}ihs_C4_L3_cd {c |}{col 14}{res}{space 2} .0466856{col 26}{space 2}  .052144{col 37}{space 1}    0.90{col 46}{space 3}0.375{col 54}{space 4}-.0581017{col 67}{space 3} .1514729
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3639753{col 26}{space 2} .0446128{col 37}{space 1}    8.16{col 46}{space 3}0.000{col 54}{space 4} .2743225{col 67}{space 3} .4536281
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.71
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9383
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9373
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2321
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3090

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4971135{col 26}{space 2} .1065538{col 37}{space 1}    4.67{col 46}{space 3}0.000{col 54}{space 4} .2829855{col 67}{space 3} .7112414
{txt}ihs_C5_L3_cd {c |}{col 14}{res}{space 2}-.0018483{col 26}{space 2} .0373155{col 37}{space 1}   -0.05{col 46}{space 3}0.961{col 54}{space 4}-.0768365{col 67}{space 3} .0731399
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .399949{col 26}{space 2} .0336467{col 37}{space 1}   11.89{col 46}{space 3}0.000{col 54}{space 4} .3323333{col 67}{space 3} .4675646
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.85
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.9409
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9399
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2646
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3024

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4463179{col 26}{space 2} .1021286{col 37}{space 1}    4.37{col 46}{space 3}0.000{col 54}{space 4} .2410829{col 67}{space 3}  .651553
{txt}ihs_C6_L3_cd {c |}{col 14}{res}{space 2} .2087499{col 26}{space 2} .1100445{col 37}{space 1}    1.90{col 46}{space 3}0.064{col 54}{space 4}-.0123927{col 67}{space 3} .4298925
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2191697{col 26}{space 2} .1209821{col 37}{space 1}    1.81{col 46}{space 3}0.076{col 54}{space 4}-.0239529{col 67}{space 3} .4622923
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     18.58
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9391
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9381
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2424
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3070

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2}    .4904{col 26}{space 2} .1052368{col 37}{space 1}    4.66{col 46}{space 3}0.000{col 54}{space 4} .2789188{col 67}{space 3} .7018812
{txt}ihs_C7_L3_cd {c |}{col 14}{res}{space 2} .1091346{col 26}{space 2}  .082944{col 37}{space 1}    1.32{col 46}{space 3}0.194{col 54}{space 4}-.0575476{col 67}{space 3} .2758169
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3149881{col 26}{space 2} .0590151{col 37}{space 1}    5.34{col 46}{space 3}0.000{col 54}{space 4} .1963928{col 67}{space 3} .4335833
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: ihs_C8_L3_cd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     21.51
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9383
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9373
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2321
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3090

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4971702{col 26}{space 2} .1071965{col 37}{space 1}    4.64{col 46}{space 3}0.000{col 54}{space 4} .2817508{col 67}{space 3} .7125895
{txt}ihs_C8_L3_cd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .3990199{col 26}{space 2} .0405768{col 37}{space 1}    9.83{col 46}{space 3}0.000{col 54}{space 4} .3174777{col 67}{space 3}  .480562
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
.                 ********************
.                 ** report results **
.                 ********************
.                 
.                 *** outcome sales 
.                 
.                 ******* reghdfe LEVEL w/ country and cell fixed-effects ******
.                                         
. estimates table fe2_C*, b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:fe2_C1} {space 1} {center 12:fe2_C2} {space 1} {center 12:fe2_C3} {space 1} {center 12:fe2_C4} {space 1} {center 12:fe2_C5} {space 1} {center 12:fe2_C6} {space 1} {center 12:fe2_C7} {space 1} {center 12:fe2_C8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 7}L3_sd {c |}{res} {ralign 9:0.3586}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3571}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3604}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3585}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3574}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.2810}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3565}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3575}{lalign 3:**}{txt} {space 1}
{res}{txt}{space 4}C1_L3_sd {c |}{res} {ralign 9:0.0405}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}C2_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.0130}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}C3_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1847}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}C4_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1475}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}C5_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.0045}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}C6_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1105}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}C7_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0550}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}C8_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:(omitted)}{lalign 3:}{txt} {space 1}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:91.5151}{lalign 3:***}{txt} {space 1}{res} {ralign 9:96.7744}{lalign 3:***}{txt} {space 1}{res} {ralign 9:77.9523}{lalign 3:***}{txt} {space 1}{res} {ralign 9:82.0668}{lalign 3:***}{txt} {space 1}{res} {ralign 9:95.8672}{lalign 3:***}{txt} {space 1}{res} {ralign 9:77.8458}{lalign 3:*}{txt} {space 1}{res} {ralign 9:90.7382}{lalign 3:***}{txt} {space 1}{res} {ralign 9:95.6573}{lalign 3:***}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.5692}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5688}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5762}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5744}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5687}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5761}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5694}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5687}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2_a} {c |}{res} {ralign 9:0.5620}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5616}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5691}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5673}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5615}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5691}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5622}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5616}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:F} {c |}{res} {ralign 9:5.0699}{lalign 3:}{txt} {space 1}{res} {ralign 9:2.1715}{lalign 3:}{txt} {space 1}{res} {ralign 9:4.3886}{lalign 3:}{txt} {space 1}{res} {ralign 9:4.4967}{lalign 3:}{txt} {space 1}{res} {ralign 9:8.9924}{lalign 3:}{txt} {space 1}{res} {ralign 9:2.3665}{lalign 3:}{txt} {space 1}{res} {ralign 9:2.3050}{lalign 3:}{txt} {space 1}{res} {ralign 9:4.1714}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 134:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
.                 ******* reghdfe LOG w/ country and cell fixed-effects ******
.                                         
. estimates table  log_fe2_C* , b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:log_fe2_C1} {space 1} {center 12:log_fe2_C2} {space 1} {center 12:log_fe2_C3} {space 1} {center 12:log_fe2_C4} {space 1} {center 12:log_fe2_C5} {space 1} {center 12:log_fe2_C6} {space 1} {center 12:log_fe2_C7} {space 1} {center 12:log_fe2_C8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 3}log_L3_sd {c |}{res} {ralign 9:0.3275}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3244}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3201}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3243}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3193}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.2914}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3166}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3251}{lalign 3:***}{txt} {space 1}
{res}{txt}log_C1_L3_sd {c |}{res} {ralign 9:0.0529}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_C2_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0381}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_C3_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0772}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_C4_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0418}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_C5_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0516}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_C6_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1743}{lalign 3:***}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_C7_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1159}{lalign 3:*}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_C8_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:(omitted)}{lalign 3:}{txt} {space 1}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:0.5334}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.5581}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.4953}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.5614}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.5801}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3544}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.4627}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.6142}{lalign 3:***}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.8838}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8834}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8844}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8834}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8834}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8887}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8857}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8830}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2_a} {c |}{res} {ralign 9:0.8819}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8814}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8825}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8814}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8815}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8868}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8838}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8811}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:F} {c |}{res} {ralign 9:12.1938}{lalign 3:}{txt} {space 1}{res} {ralign 9:12.5227}{lalign 3:}{txt} {space 1}{res} {ralign 9:8.7342}{lalign 3:}{txt} {space 1}{res} {ralign 9:8.5701}{lalign 3:}{txt} {space 1}{res} {ralign 9:9.0352}{lalign 3:}{txt} {space 1}{res} {ralign 9:11.9546}{lalign 3:}{txt} {space 1}{res} {ralign 9:17.7610}{lalign 3:}{txt} {space 1}{res} {ralign 9:17.2013}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 134:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
.                 ******* reghdfe IHS w/ country and cell fixed-effects ******
. 
. estimates table  ihs_fe2_C* , b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:ihs_fe2_C1} {space 1} {center 12:ihs_fe2_C2} {space 1} {center 12:ihs_fe2_C3} {space 1} {center 12:ihs_fe2_C4} {space 1} {center 12:ihs_fe2_C5} {space 1} {center 12:ihs_fe2_C6} {space 1} {center 12:ihs_fe2_C7} {space 1} {center 12:ihs_fe2_C8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 3}ihs_L3_sd {c |}{res} {ralign 9:0.3092}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3064}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3034}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3070}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3023}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.2815}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3000}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3072}{lalign 3:***}{txt} {space 1}
{res}{txt}ihs_C1_L3_sd {c |}{res} {ralign 9:0.0494}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_C2_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0448}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_C3_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0688}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_C4_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0271}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_C5_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0468}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_C6_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1589}{lalign 3:***}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_C7_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1181}{lalign 3:*}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_C8_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:(omitted)}{lalign 3:}{txt} {space 1}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:0.6212}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.6317}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.5846}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.6680}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.6718}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.4349}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.5286}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.7082}{lalign 3:***}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.8835}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8833}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8839}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8830}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8832}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8874}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8856}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8828}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2_a} {c |}{res} {ralign 9:0.8816}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8814}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8820}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8810}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8812}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8856}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8837}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8809}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:F} {c |}{res} {ralign 9:10.4233}{lalign 3:}{txt} {space 1}{res} {ralign 9:10.8297}{lalign 3:}{txt} {space 1}{res} {ralign 9:7.8646}{lalign 3:}{txt} {space 1}{res} {ralign 9:8.1088}{lalign 3:}{txt} {space 1}{res} {ralign 9:7.8539}{lalign 3:}{txt} {space 1}{res} {ralign 9:10.6163}{lalign 3:}{txt} {space 1}{res} {ralign 9:18.6711}{lalign 3:}{txt} {space 1}{res} {ralign 9:15.4023}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 134:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
. 
.                 ******* reghdfe for product count as outcome *************
. 
. /* 
>                 ******* reghdfe LEVEL w/ country and cell fixed-effects ******
>                                         
> estimates table feC_C*, b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
> 
>                 ******* reghdfe LOG w/ country and cell fixed-effects ******
>                                         
> estimates table  log_feC_C* , b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
> 
>                 ******* reghdfe IHS w/ country and cell fixed-effects ******
> 
> estimates table  ihs_feC_C* , b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
> 
> */ 
. 
.                 ************************
.                 *** Beam (B) ***********
.                 ************************
.                 
.         ***************** OUTCOME Sales ****************************
. 
.         ** Results for untransformed data **
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  csd    L3_sd   B`q'_L3_sd                                      if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store fe2_B`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.37
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0425
{txt}{col 51}R-squared{col 67}= {res}    0.5699
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5627
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2514
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  537.0211

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3606722{col 26}{space 2} .1769136{col 37}{space 1}    2.04{col 46}{space 3}0.047{col 54}{space 4} .0051509{col 67}{space 3} .7161934
{txt}{space 4}B1_L3_sd {c |}{col 14}{res}{space 2}-.0294213{col 26}{space 2} .0373143{col 37}{space 1}   -0.79{col 46}{space 3}0.434{col 54}{space 4}-.1044071{col 67}{space 3} .0455645
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 104.9945{col 26}{space 2} 16.32768{col 37}{space 1}    6.43{col 46}{space 3}0.000{col 54}{space 4} 72.18278{col 67}{space 3} 137.8062
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.69
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0779
{txt}{col 51}R-squared{col 67}= {res}    0.5699
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5627
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2513
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  537.0330

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3592589{col 26}{space 2} .1746781{col 37}{space 1}    2.06{col 46}{space 3}0.045{col 54}{space 4}   .00823{col 67}{space 3} .7102877
{txt}{space 4}B2_L3_sd {c |}{col 14}{res}{space 2} .0505852{col 26}{space 2} .0758666{col 37}{space 1}    0.67{col 46}{space 3}0.508{col 54}{space 4}-.1018744{col 67}{space 3} .2030447
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 87.82829{col 26}{space 2} 25.21081{col 37}{space 1}    3.48{col 46}{space 3}0.001{col 54}{space 4} 37.16527{col 67}{space 3} 138.4913
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      4.50
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0160
{txt}{col 51}R-squared{col 67}= {res}    0.5776
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5705
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2648
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  532.1944

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2}  .360262{col 26}{space 2} .1759682{col 37}{space 1}    2.05{col 46}{space 3}0.046{col 54}{space 4} .0066406{col 67}{space 3} .7138834
{txt}{space 4}B3_L3_sd {c |}{col 14}{res}{space 2} .2191563{col 26}{space 2} .1543172{col 37}{space 1}    1.42{col 46}{space 3}0.162{col 54}{space 4}-.0909557{col 67}{space 3} .5292684
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 78.68651{col 26}{space 2} 23.88686{col 37}{space 1}    3.29{col 46}{space 3}0.002{col 54}{space 4} 30.68408{col 67}{space 3} 126.6889
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.83
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0286
{txt}{col 51}R-squared{col 67}= {res}    0.5689
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5617
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2497
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  537.6255

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3574778{col 26}{space 2} .1748353{col 37}{space 1}    2.04{col 46}{space 3}0.046{col 54}{space 4} .0061331{col 67}{space 3} .7088224
{txt}{space 4}B4_L3_sd {c |}{col 14}{res}{space 2}-.0315533{col 26}{space 2} .0411571{col 37}{space 1}   -0.77{col 46}{space 3}0.447{col 54}{space 4}-.1142615{col 67}{space 3} .0511549
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}   97.337{col 26}{space 2}  22.9239{col 37}{space 1}    4.25{col 46}{space 3}0.000{col 54}{space 4}  51.2697{col 67}{space 3} 143.4043
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.84
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0283
{txt}{col 51}R-squared{col 67}= {res}    0.5698
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5627
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2513
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  537.0475

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3587997{col 26}{space 2} .1745757{col 37}{space 1}    2.06{col 46}{space 3}0.045{col 54}{space 4} .0079768{col 67}{space 3} .7096227
{txt}{space 4}B5_L3_sd {c |}{col 14}{res}{space 2}-.3477486{col 26}{space 2} .2834932{col 37}{space 1}   -1.23{col 46}{space 3}0.226{col 54}{space 4}-.9174495{col 67}{space 3} .2219523
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 98.58804{col 26}{space 2}  25.5413{col 37}{space 1}    3.86{col 46}{space 3}0.000{col 54}{space 4} 47.26088{col 67}{space 3} 149.9152
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.32
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.1086
{txt}{col 51}R-squared{col 67}= {res}    0.5696
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5624
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2508
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  537.2240

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3283065{col 26}{space 2} .1839895{col 37}{space 1}    1.78{col 46}{space 3}0.081{col 54}{space 4}-.0414344{col 67}{space 3} .6980473
{txt}{space 4}B6_L3_sd {c |}{col 14}{res}{space 2} .0840455{col 26}{space 2} .1172802{col 37}{space 1}    0.72{col 46}{space 3}0.477{col 54}{space 4}-.1516378{col 67}{space 3} .3197289
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 90.57991{col 26}{space 2} 25.96542{col 37}{space 1}    3.49{col 46}{space 3}0.001{col 54}{space 4} 38.40044{col 67}{space 3} 142.7594
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.73
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0310
{txt}{col 51}R-squared{col 67}= {res}    0.5687
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5615
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2494
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  537.7386

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2}  .357456{col 26}{space 2}   .17556{col 37}{space 1}    2.04{col 46}{space 3}0.047{col 54}{space 4}  .004655{col 67}{space 3}  .710257
{txt}{space 4}B7_L3_sd {c |}{col 14}{res}{space 2}-.0003295{col 26}{space 2} .0601829{col 37}{space 1}   -0.01{col 46}{space 3}0.996{col 54}{space 4}-.1212715{col 67}{space 3} .1206126
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 95.68133{col 26}{space 2} 22.11802{col 37}{space 1}    4.33{col 46}{space 3}0.000{col 54}{space 4} 51.23351{col 67}{space 3} 140.1291
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.13
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.1294
{txt}{col 51}R-squared{col 67}= {res}    0.5726
{txt}{col 51}Adj R-squared{col 67}= {res}    0.5655
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2561
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}  535.3120

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_sd {c |}{col 14}{res}{space 2} .3665742{col 26}{space 2}  .178021{col 37}{space 1}    2.06{col 46}{space 3}0.045{col 54}{space 4} .0088276{col 67}{space 3} .7243208
{txt}{space 4}B8_L3_sd {c |}{col 14}{res}{space 2} .0412639{col 26}{space 2}  .031303{col 37}{space 1}    1.32{col 46}{space 3}0.194{col 54}{space 4}-.0216418{col 67}{space 3} .1041696
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} -14.1108{col 26}{space 2} 101.4468{col 37}{space 1}   -0.14{col 46}{space 3}0.890{col 54}{space 4}-217.9758{col 67}{space 3} 189.7542
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
.     ** Results for log transformed data **
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  log_csd    log_L3_sd   log_B`q'_L3_sd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store log_fe2_B`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.09
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8844
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8825
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1604
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7167

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3178641{col 26}{space 2} .0788281{col 37}{space 1}    4.03{col 46}{space 3}0.000{col 54}{space 4}  .159453{col 67}{space 3} .4762752
{txt}log_B1_L3_sd {c |}{col 14}{res}{space 2}  .073242{col 26}{space 2} .0325418{col 37}{space 1}    2.25{col 46}{space 3}0.029{col 54}{space 4} .0078468{col 67}{space 3} .1386373
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .415947{col 26}{space 2}  .102057{col 37}{space 1}    4.08{col 46}{space 3}0.000{col 54}{space 4} .2108558{col 67}{space 3} .6210382
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.57
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0006
{txt}{col 51}R-squared{col 67}= {res}    0.8856
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8837
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1689
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7131

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3177393{col 26}{space 2}  .077615{col 37}{space 1}    4.09{col 46}{space 3}0.000{col 54}{space 4} .1617662{col 67}{space 3} .4737125
{txt}log_B2_L3_sd {c |}{col 14}{res}{space 2}  .102853{col 26}{space 2}    .0591{col 37}{space 1}    1.74{col 46}{space 3}0.088{col 54}{space 4}-.0159129{col 67}{space 3}  .221619
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4325787{col 26}{space 2} .1369063{col 37}{space 1}    3.16{col 46}{space 3}0.003{col 54}{space 4} .1574552{col 67}{space 3} .7077022
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.74
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0006
{txt}{col 51}R-squared{col 67}= {res}    0.8850
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8831
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1648
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7149

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3158801{col 26}{space 2} .0774791{col 37}{space 1}    4.08{col 46}{space 3}0.000{col 54}{space 4}   .16018{col 67}{space 3} .4715802
{txt}log_B3_L3_sd {c |}{col 14}{res}{space 2} .0975308{col 26}{space 2} .0524909{col 37}{space 1}    1.86{col 46}{space 3}0.069{col 54}{space 4}-.0079536{col 67}{space 3} .2030152
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4915964{col 26}{space 2} .1018826{col 37}{space 1}    4.83{col 46}{space 3}0.000{col 54}{space 4} .2868557{col 67}{space 3} .6963371
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.78
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8831
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8811
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1503
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7210

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3252396{col 26}{space 2} .0778422{col 37}{space 1}    4.18{col 46}{space 3}0.000{col 54}{space 4} .1688099{col 67}{space 3} .4816693
{txt}log_B4_L3_sd {c |}{col 14}{res}{space 2}-.0112012{col 26}{space 2}  .083208{col 37}{space 1}   -0.13{col 46}{space 3}0.893{col 54}{space 4}-.1784139{col 67}{space 3} .1560115
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6223999{col 26}{space 2} .1024694{col 37}{space 1}    6.07{col 46}{space 3}0.000{col 54}{space 4} .4164799{col 67}{space 3} .8283199
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.78
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0006
{txt}{col 51}R-squared{col 67}= {res}    0.8831
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8811
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1505
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7210

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3232452{col 26}{space 2}  .079403{col 37}{space 1}    4.07{col 46}{space 3}0.000{col 54}{space 4} .1636789{col 67}{space 3} .4828114
{txt}log_B5_L3_sd {c |}{col 14}{res}{space 2} .0152732{col 26}{space 2} .0533398{col 37}{space 1}    0.29{col 46}{space 3}0.776{col 54}{space 4}-.0919171{col 67}{space 3} .1224635
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6102743{col 26}{space 2} .0608361{col 37}{space 1}   10.03{col 46}{space 3}0.000{col 54}{space 4} .4880196{col 67}{space 3} .7325289
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.30
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8903
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8884
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2028
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6984

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2918767{col 26}{space 2} .0785436{col 37}{space 1}    3.72{col 46}{space 3}0.001{col 54}{space 4} .1340373{col 67}{space 3} .4497161
{txt}log_B6_L3_sd {c |}{col 14}{res}{space 2}  .188516{col 26}{space 2} .0609306{col 37}{space 1}    3.09{col 46}{space 3}0.003{col 54}{space 4} .0660714{col 67}{space 3} .3109607
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4469048{col 26}{space 2} .0926902{col 37}{space 1}    4.82{col 46}{space 3}0.000{col 54}{space 4} .2606368{col 67}{space 3} .6331727
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.39
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8843
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8823
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1592
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7172

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3182909{col 26}{space 2} .0773128{col 37}{space 1}    4.12{col 46}{space 3}0.000{col 54}{space 4}  .162925{col 67}{space 3} .4736567
{txt}log_B7_L3_sd {c |}{col 14}{res}{space 2} .0794147{col 26}{space 2} .0455311{col 37}{space 1}    1.74{col 46}{space 3}0.087{col 54}{space 4}-.0120835{col 67}{space 3} .1709129
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5247386{col 26}{space 2} .0740882{col 37}{space 1}    7.08{col 46}{space 3}0.000{col 54}{space 4} .3758528{col 67}{space 3} .6736244
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     20.82
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8834
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8815
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1532
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7198

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .330358{col 26}{space 2} .0763815{col 37}{space 1}    4.33{col 46}{space 3}0.000{col 54}{space 4} .1768637{col 67}{space 3} .4838523
{txt}log_B8_L3_sd {c |}{col 14}{res}{space 2} .1175346{col 26}{space 2} .0684096{col 37}{space 1}    1.72{col 46}{space 3}0.092{col 54}{space 4}-.0199396{col 67}{space 3} .2550089
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.2342194{col 26}{space 2} .4625018{col 37}{space 1}   -0.51{col 46}{space 3}0.615{col 54}{space 4}-1.163651{col 67}{space 3} .6952127
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
.     ** Results for ihs transformed data **
. 
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  ihs_csd    ihs_L3_sd   ihs_B`q'_L3_sd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store ihs_fe2_B`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.59
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8838
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8819
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1406
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7990

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3020747{col 26}{space 2} .0784996{col 37}{space 1}    3.85{col 46}{space 3}0.000{col 54}{space 4} .1443237{col 67}{space 3} .4598256
{txt}ihs_B1_L3_sd {c |}{col 14}{res}{space 2} .0617954{col 26}{space 2} .0286221{col 37}{space 1}    2.16{col 46}{space 3}0.036{col 54}{space 4} .0042771{col 67}{space 3} .1193137
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5161718{col 26}{space 2} .1087664{col 37}{space 1}    4.75{col 46}{space 3}0.000{col 54}{space 4} .2975976{col 67}{space 3}  .734746
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.63
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0013
{txt}{col 51}R-squared{col 67}= {res}    0.8852
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8833
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1508
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7943

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3004397{col 26}{space 2}  .077178{col 37}{space 1}    3.89{col 46}{space 3}0.000{col 54}{space 4} .1453447{col 67}{space 3} .4555347
{txt}ihs_B2_L3_sd {c |}{col 14}{res}{space 2} .0987797{col 26}{space 2} .0569338{col 37}{space 1}    1.73{col 46}{space 3}0.089{col 54}{space 4}-.0156331{col 67}{space 3} .2131924
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5063668{col 26}{space 2} .1575873{col 37}{space 1}    3.21{col 46}{space 3}0.002{col 54}{space 4} .1896832{col 67}{space 3} .8230504
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.67
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0013
{txt}{col 51}R-squared{col 67}= {res}    0.8845
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8826
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1458
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7966

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2992016{col 26}{space 2}  .077209{col 37}{space 1}    3.88{col 46}{space 3}0.000{col 54}{space 4} .1440442{col 67}{space 3}  .454359
{txt}ihs_B3_L3_sd {c |}{col 14}{res}{space 2} .0895698{col 26}{space 2} .0498825{col 37}{space 1}    1.80{col 46}{space 3}0.079{col 54}{space 4}-.0106728{col 67}{space 3} .1898124
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5766478{col 26}{space 2} .1177431{col 37}{space 1}    4.90{col 46}{space 3}0.000{col 54}{space 4} .3400342{col 67}{space 3} .8132613
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.91
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8829
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8809
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1337
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8023

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3073652{col 26}{space 2} .0779095{col 37}{space 1}    3.95{col 46}{space 3}0.000{col 54}{space 4} .1508002{col 67}{space 3} .4639301
{txt}ihs_B4_L3_sd {c |}{col 14}{res}{space 2}-.0200538{col 26}{space 2} .0846281{col 37}{space 1}   -0.24{col 46}{space 3}0.814{col 54}{space 4}-.1901204{col 67}{space 3} .1500128
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7254098{col 26}{space 2} .1222752{col 37}{space 1}    5.93{col 46}{space 3}0.000{col 54}{space 4} .4796885{col 67}{space 3}  .971131
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.76
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0012
{txt}{col 51}R-squared{col 67}= {res}    0.8829
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8809
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1336
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8023

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3052661{col 26}{space 2} .0788602{col 37}{space 1}    3.87{col 46}{space 3}0.000{col 54}{space 4} .1467905{col 67}{space 3} .4637416
{txt}ihs_B5_L3_sd {c |}{col 14}{res}{space 2} .0166414{col 26}{space 2} .0492663{col 37}{space 1}    0.34{col 46}{space 3}0.737{col 54}{space 4}-.0823629{col 67}{space 3} .1156457
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7029508{col 26}{space 2} .0698482{col 37}{space 1}   10.06{col 46}{space 3}0.000{col 54}{space 4} .5625855{col 67}{space 3} .8433161
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.36
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8895
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8877
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1827
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7792

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .281706{col 26}{space 2} .0799426{col 37}{space 1}    3.52{col 46}{space 3}0.001{col 54}{space 4} .1210553{col 67}{space 3} .4423567
{txt}ihs_B6_L3_sd {c |}{col 14}{res}{space 2} .1807317{col 26}{space 2} .0586654{col 37}{space 1}    3.08{col 46}{space 3}0.003{col 54}{space 4} .0628392{col 67}{space 3} .2986243
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5195292{col 26}{space 2} .1058761{col 37}{space 1}    4.91{col 46}{space 3}0.000{col 54}{space 4} .3067631{col 67}{space 3} .7322952
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.53
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8839
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8820
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1414
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7987

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3019161{col 26}{space 2} .0770195{col 37}{space 1}    3.92{col 46}{space 3}0.000{col 54}{space 4} .1471396{col 67}{space 3} .4566925
{txt}ihs_B7_L3_sd {c |}{col 14}{res}{space 2}  .074678{col 26}{space 2} .0410888{col 37}{space 1}    1.82{col 46}{space 3}0.075{col 54}{space 4}-.0078931{col 67}{space 3} .1572491
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6097469{col 26}{space 2} .0816877{col 37}{space 1}    7.46{col 46}{space 3}0.000{col 54}{space 4} .4455893{col 67}{space 3} .7739044
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     21.14
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8832
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8813
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1361
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8012

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3123232{col 26}{space 2} .0761255{col 37}{space 1}    4.10{col 46}{space 3}0.000{col 54}{space 4} .1593433{col 67}{space 3} .4653031
{txt}ihs_B8_L3_sd {c |}{col 14}{res}{space 2} .1246294{col 26}{space 2} .0744134{col 37}{space 1}    1.67{col 46}{space 3}0.100{col 54}{space 4}-.0249099{col 67}{space 3} .2741687
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.2777415{col 26}{space 2} .5495832{col 37}{space 1}   -0.51{col 46}{space 3}0.616{col 54}{space 4} -1.38217{col 67}{space 3} .8266874
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
. ***************** OUTCOME Count ****************************
.         
. 
.         ** Results for untransformed data **
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  ccd    L3_cd   B`q'_L3_cd                                      if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store feC_B`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     22.61
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9002
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8986
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3615
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8852

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5587423{col 26}{space 2} .0835517{col 37}{space 1}    6.69{col 46}{space 3}0.000{col 54}{space 4} .3908389{col 67}{space 3} .7266456
{txt}{space 4}B1_L3_cd {c |}{col 14}{res}{space 2} .0640697{col 26}{space 2} .0661002{col 37}{space 1}    0.97{col 46}{space 3}0.337{col 54}{space 4}-.0687636{col 67}{space 3}  .196903
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 1.691129{col 26}{space 2} .4669172{col 37}{space 1}    3.62{col 46}{space 3}0.001{col 54}{space 4} .7528238{col 67}{space 3} 2.629434
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     21.72
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9008
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8991
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3651
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8772

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5611248{col 26}{space 2} .0851721{col 37}{space 1}    6.59{col 46}{space 3}0.000{col 54}{space 4}  .389965{col 67}{space 3} .7322846
{txt}{space 4}B2_L3_cd {c |}{col 14}{res}{space 2} .1459946{col 26}{space 2} .1279409{col 37}{space 1}    1.14{col 46}{space 3}0.259{col 54}{space 4}-.1111123{col 67}{space 3} .4031015
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 1.648813{col 26}{space 2} .4539687{col 37}{space 1}    3.63{col 46}{space 3}0.001{col 54}{space 4} .7365287{col 67}{space 3} 2.561097
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     38.26
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9023
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9007
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3747
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8553

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5685084{col 26}{space 2} .0821866{col 37}{space 1}    6.92{col 46}{space 3}0.000{col 54}{space 4} .4033482{col 67}{space 3} .7336686
{txt}{space 4}B3_L3_cd {c |}{col 14}{res}{space 2} .3027565{col 26}{space 2} .1317249{col 37}{space 1}    2.30{col 46}{space 3}0.026{col 54}{space 4} .0380455{col 67}{space 3} .5674676
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 1.573267{col 26}{space 2} .2175445{col 37}{space 1}    7.23{col 46}{space 3}0.000{col 54}{space 4} 1.136095{col 67}{space 3} 2.010439
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     21.86
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8996
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8979
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3572
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8949

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5619275{col 26}{space 2} .0849921{col 37}{space 1}    6.61{col 46}{space 3}0.000{col 54}{space 4} .3911295{col 67}{space 3} .7327256
{txt}{space 4}B4_L3_cd {c |}{col 14}{res}{space 2} .0733016{col 26}{space 2}  .090768{col 37}{space 1}    0.81{col 46}{space 3}0.423{col 54}{space 4}-.1091036{col 67}{space 3} .2557067
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 2.035039{col 26}{space 2} .1698485{col 37}{space 1}   11.98{col 46}{space 3}0.000{col 54}{space 4} 1.693716{col 67}{space 3} 2.376362
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     57.63
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9003
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8986
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3617
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8849

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5707421{col 26}{space 2} .0770908{col 37}{space 1}    7.40{col 46}{space 3}0.000{col 54}{space 4} .4158224{col 67}{space 3} .7256619
{txt}{space 4}B5_L3_cd {c |}{col 14}{res}{space 2}-.5111361{col 26}{space 2} .3450365{col 37}{space 1}   -1.48{col 46}{space 3}0.145{col 54}{space 4}-1.204513{col 67}{space 3} .1822406
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 2.259539{col 26}{space 2} .1938403{col 37}{space 1}   11.66{col 46}{space 3}0.000{col 54}{space 4} 1.870003{col 67}{space 3} 2.649076
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     30.36
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9072
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9057
{txt}{col 51}Within R-sq.{col 67}= {res}    0.4063
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.7821

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2}  .394547{col 26}{space 2} .0811529{col 37}{space 1}    4.86{col 46}{space 3}0.000{col 54}{space 4} .2314642{col 67}{space 3} .5576298
{txt}{space 4}B6_L3_cd {c |}{col 14}{res}{space 2} .4937656{col 26}{space 2} .1261665{col 37}{space 1}    3.91{col 46}{space 3}0.000{col 54}{space 4} .2402244{col 67}{space 3} .7473067
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 1.578383{col 26}{space 2} .1918535{col 37}{space 1}    8.23{col 46}{space 3}0.000{col 54}{space 4} 1.192839{col 67}{space 3} 1.963927
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     22.49
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8997
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8980
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3580
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8932

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5576002{col 26}{space 2}  .083235{col 37}{space 1}    6.70{col 46}{space 3}0.000{col 54}{space 4} .3903333{col 67}{space 3}  .724867
{txt}{space 4}B7_L3_cd {c |}{col 14}{res}{space 2} .0921583{col 26}{space 2} .0834588{col 37}{space 1}    1.10{col 46}{space 3}0.275{col 54}{space 4}-.0755585{col 67}{space 3} .2598752
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 1.963918{col 26}{space 2} .1999623{col 37}{space 1}    9.82{col 46}{space 3}0.000{col 54}{space 4} 1.562079{col 67}{space 3} 2.365757
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     24.75
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9006
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8989
{txt}{col 51}Within R-sq.{col 67}= {res}    0.3635
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    2.8808

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}         ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}L3_cd {c |}{col 14}{res}{space 2} .5470832{col 26}{space 2} .0841019{col 37}{space 1}    6.51{col 46}{space 3}0.000{col 54}{space 4} .3780741{col 67}{space 3} .7160922
{txt}{space 4}B8_L3_cd {c |}{col 14}{res}{space 2}-.0595566{col 26}{space 2} .0422772{col 37}{space 1}   -1.41{col 46}{space 3}0.165{col 54}{space 4}-.1445158{col 67}{space 3} .0254027
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 4.407369{col 26}{space 2} 1.636505{col 37}{space 1}    2.69{col 46}{space 3}0.010{col 54}{space 4}  1.11869{col 67}{space 3} 7.696048
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
.     ** Results for log transformed data **
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  log_ccd    log_L3_cd   log_B`q'_L3_cd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store log_feC_B`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.76
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9400
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9390
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2569
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2507

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5196987{col 26}{space 2} .1053935{col 37}{space 1}    4.93{col 46}{space 3}0.000{col 54}{space 4} .3079024{col 67}{space 3} .7314949
{txt}log_B1_L3_cd {c |}{col 14}{res}{space 2} .0588003{col 26}{space 2} .0409899{col 37}{space 1}    1.43{col 46}{space 3}0.158{col 54}{space 4}-.0235719{col 67}{space 3} .1411725
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2415796{col 26}{space 2} .0609254{col 37}{space 1}    3.97{col 46}{space 3}0.000{col 54}{space 4} .1191454{col 67}{space 3} .3640138
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.27
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9433
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9423
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2979
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2436

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5148577{col 26}{space 2} .1042276{col 37}{space 1}    4.94{col 46}{space 3}0.000{col 54}{space 4} .3054046{col 67}{space 3} .7243109
{txt}log_B2_L3_cd {c |}{col 14}{res}{space 2} .2107356{col 26}{space 2} .0761184{col 37}{space 1}    2.77{col 46}{space 3}0.008{col 54}{space 4}   .05777{col 67}{space 3} .3637013
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .1444083{col 26}{space 2} .0752636{col 37}{space 1}    1.92{col 46}{space 3}0.061{col 54}{space 4}-.0068397{col 67}{space 3} .2956562
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.98
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9409
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9399
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2681
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2488

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5256171{col 26}{space 2} .1048542{col 37}{space 1}    5.01{col 46}{space 3}0.000{col 54}{space 4} .3149046{col 67}{space 3} .7363295
{txt}log_B3_L3_cd {c |}{col 14}{res}{space 2} .1199624{col 26}{space 2} .0555286{col 37}{space 1}    2.16{col 46}{space 3}0.036{col 54}{space 4} .0083736{col 67}{space 3} .2315512
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2478981{col 26}{space 2} .0450064{col 37}{space 1}    5.51{col 46}{space 3}0.000{col 54}{space 4} .1574543{col 67}{space 3} .3383419
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     18.10
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9396
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9386
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2525
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2514

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5268982{col 26}{space 2} .1044244{col 37}{space 1}    5.05{col 46}{space 3}0.000{col 54}{space 4} .3170494{col 67}{space 3} .7367469
{txt}log_B4_L3_cd {c |}{col 14}{res}{space 2} .0262926{col 26}{space 2} .0824697{col 37}{space 1}    0.32{col 46}{space 3}0.751{col 54}{space 4}-.1394366{col 67}{space 3} .1920217
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3078482{col 26}{space 2} .0306868{col 37}{space 1}   10.03{col 46}{space 3}0.000{col 54}{space 4} .2461809{col 67}{space 3} .3695155
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.91
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9396
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9386
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2520
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2515

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5275274{col 26}{space 2} .1038313{col 37}{space 1}    5.08{col 46}{space 3}0.000{col 54}{space 4} .3188707{col 67}{space 3} .7361841
{txt}log_B5_L3_cd {c |}{col 14}{res}{space 2} .0002824{col 26}{space 2} .0459149{col 37}{space 1}    0.01{col 46}{space 3}0.995{col 54}{space 4} -.091987{col 67}{space 3} .0925517
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3171331{col 26}{space 2} .0321893{col 37}{space 1}    9.85{col 46}{space 3}0.000{col 54}{space 4} .2524463{col 67}{space 3}   .38182
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.28
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9421
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9411
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2833
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2462

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .4850594{col 26}{space 2} .1011722{col 37}{space 1}    4.79{col 46}{space 3}0.000{col 54}{space 4} .2817462{col 67}{space 3} .6883725
{txt}log_B6_L3_cd {c |}{col 14}{res}{space 2}  .195899{col 26}{space 2} .1107331{col 37}{space 1}    1.77{col 46}{space 3}0.083{col 54}{space 4}-.0266275{col 67}{space 3} .4184256
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .253627{col 26}{space 2} .0657156{col 37}{space 1}    3.86{col 46}{space 3}0.000{col 54}{space 4} .1215665{col 67}{space 3} .3856876
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     20.67
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9399
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9388
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2556
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2509

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5222073{col 26}{space 2} .1040052{col 37}{space 1}    5.02{col 46}{space 3}0.000{col 54}{space 4} .3132009{col 67}{space 3} .7312136
{txt}log_B7_L3_cd {c |}{col 14}{res}{space 2} .0680932{col 26}{space 2} .0733464{col 37}{space 1}    0.93{col 46}{space 3}0.358{col 54}{space 4} -.079302{col 67}{space 3} .2154883
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2829253{col 26}{space 2} .0353471{col 37}{space 1}    8.00{col 46}{space 3}0.000{col 54}{space 4} .2118926{col 67}{space 3} .3539581
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     26.61
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9399
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9389
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2559
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2508

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_cd {c |}{col 14}{res}{space 2} .5304579{col 26}{space 2} .1004286{col 37}{space 1}    5.28{col 46}{space 3}0.000{col 54}{space 4} .3286391{col 67}{space 3} .7322768
{txt}log_B8_L3_cd {c |}{col 14}{res}{space 2}  .151494{col 26}{space 2} .0805525{col 37}{space 1}    1.88{col 46}{space 3}0.066{col 54}{space 4}-.0103822{col 67}{space 3} .3133703
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.2147386{col 26}{space 2} .2691713{col 37}{space 1}   -0.80{col 46}{space 3}0.429{col 54}{space 4}-.7556585{col 67}{space 3} .3261814
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
.     ** Results for ihs transformed data **
. 
.                          
. forvalues q = 1(1)8 {c -(}
{txt}  2{com}.         reghdfe  ihs_ccd    ihs_L3_cd   ihs_B`q'_L3_cd                                  if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) 
{txt}  3{com}.         estimates store ihs_feC_B`q'
{txt}  4{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.81
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.9386
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9376
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2356
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3083

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4913473{col 26}{space 2} .1084712{col 37}{space 1}    4.53{col 46}{space 3}0.000{col 54}{space 4} .2733663{col 67}{space 3} .7093283
{txt}ihs_B1_L3_cd {c |}{col 14}{res}{space 2} .0486273{col 26}{space 2} .0341748{col 37}{space 1}    1.42{col 46}{space 3}0.161{col 54}{space 4}-.0200495{col 67}{space 3}  .117304
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3207549{col 26}{space 2} .0674004{col 37}{space 1}    4.76{col 46}{space 3}0.000{col 54}{space 4} .1853087{col 67}{space 3}  .456201
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.24
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9419
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9410
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2773
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.2998

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2}  .486103{col 26}{space 2} .1075675{col 37}{space 1}    4.52{col 46}{space 3}0.000{col 54}{space 4}  .269938{col 67}{space 3} .7022681
{txt}ihs_B2_L3_cd {c |}{col 14}{res}{space 2} .2047813{col 26}{space 2} .0744905{col 37}{space 1}    2.75{col 46}{space 3}0.008{col 54}{space 4}  .055087{col 67}{space 3} .3544755
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .1867411{col 26}{space 2}  .094579{col 37}{space 1}    1.97{col 46}{space 3}0.054{col 54}{space 4}-.0033224{col 67}{space 3} .3768047
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.13
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.9394
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9384
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2460
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3062

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4949874{col 26}{space 2}  .108508{col 37}{space 1}    4.56{col 46}{space 3}0.000{col 54}{space 4} .2769323{col 67}{space 3} .7130424
{txt}ihs_B3_L3_cd {c |}{col 14}{res}{space 2} .1073585{col 26}{space 2} .0529312{col 37}{space 1}    2.03{col 46}{space 3}0.048{col 54}{space 4} .0009893{col 67}{space 3} .2137277
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3199758{col 26}{space 2} .0579687{col 37}{space 1}    5.52{col 46}{space 3}0.000{col 54}{space 4} .2034833{col 67}{space 3} .4364682
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.79
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9383
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9373
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2324
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3090

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4966677{col 26}{space 2} .1079885{col 37}{space 1}    4.60{col 46}{space 3}0.000{col 54}{space 4} .2796567{col 67}{space 3} .7136788
{txt}ihs_B4_L3_cd {c |}{col 14}{res}{space 2} .0186117{col 26}{space 2} .0789229{col 37}{space 1}    0.24{col 46}{space 3}0.815{col 54}{space 4}-.1399898{col 67}{space 3} .1772133
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3906335{col 26}{space 2} .0389522{col 37}{space 1}   10.03{col 46}{space 3}0.000{col 54}{space 4}  .312356{col 67}{space 3} .4689109
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.76
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.9383
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9373
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2321
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3090

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4971639{col 26}{space 2} .1072138{col 37}{space 1}    4.64{col 46}{space 3}0.000{col 54}{space 4} .2817098{col 67}{space 3} .7126181
{txt}ihs_B5_L3_cd {c |}{col 14}{res}{space 2}-.0003883{col 26}{space 2} .0411025{col 37}{space 1}   -0.01{col 46}{space 3}0.993{col 54}{space 4}-.0829869{col 67}{space 3} .0822103
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3991023{col 26}{space 2} .0416002{col 37}{space 1}    9.59{col 46}{space 3}0.000{col 54}{space 4} .3155036{col 67}{space 3} .4827011
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.31
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.9406
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9396
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2606
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3032

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4635254{col 26}{space 2} .1061844{col 37}{space 1}    4.37{col 46}{space 3}0.000{col 54}{space 4} .2501399{col 67}{space 3} .6769109
{txt}ihs_B6_L3_cd {c |}{col 14}{res}{space 2} .1820046{col 26}{space 2}  .107455{col 37}{space 1}    1.69{col 46}{space 3}0.097{col 54}{space 4}-.0339344{col 67}{space 3} .3979436
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .322407{col 26}{space 2} .0836904{col 37}{space 1}    3.85{col 46}{space 3}0.000{col 54}{space 4} .1542249{col 67}{space 3} .4905892
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     16.21
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9385
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9375
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2351
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3084

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4931558{col 26}{space 2} .1068007{col 37}{space 1}    4.62{col 46}{space 3}0.000{col 54}{space 4} .2785317{col 67}{space 3} .7077798
{txt}ihs_B7_L3_cd {c |}{col 14}{res}{space 2}  .060024{col 26}{space 2} .0715059{col 37}{space 1}    0.84{col 46}{space 3}0.405{col 54}{space 4}-.0836724{col 67}{space 3} .2037204
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3602479{col 26}{space 2} .0464432{col 37}{space 1}    7.76{col 46}{space 3}0.000{col 54}{space 4} .2669168{col 67}{space 3}  .453579
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     17.28
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.9389
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9378
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2391
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.3076

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_ccd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_cd {c |}{col 14}{res}{space 2} .4998833{col 26}{space 2} .1032792{col 37}{space 1}    4.84{col 46}{space 3}0.000{col 54}{space 4} .2923359{col 67}{space 3} .7074308
{txt}ihs_B8_L3_cd {c |}{col 14}{res}{space 2} .2335019{col 26}{space 2} .1154189{col 37}{space 1}    2.02{col 46}{space 3}0.049{col 54}{space 4} .0015589{col 67}{space 3} .4654448
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.5735503{col 26}{space 2} .4719922{col 37}{space 1}   -1.22{col 46}{space 3}0.230{col 54}{space 4}-1.522054{col 67}{space 3} .3749534
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}. 
. 
.                 ********************
.                 ** report results **
.                 ********************
.                 
.                 *** outcome sales 
.                 
.                 ******* reghdfe LEVEL w/ country and cell fixed-effects ******
.                                         
. estimates table fe2_B*, b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:fe2_B1} {space 1} {center 12:fe2_B2} {space 1} {center 12:fe2_B3} {space 1} {center 12:fe2_B4} {space 1} {center 12:fe2_B5} {space 1} {center 12:fe2_B6} {space 1} {center 12:fe2_B7} {space 1} {center 12:fe2_B8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 7}L3_sd {c |}{res} {ralign 9:0.3607}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3593}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3603}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3575}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3588}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3283}{lalign 3:*}{txt} {space 1}{res} {ralign 9:0.3575}{lalign 3:**}{txt} {space 1}{res} {ralign 9:0.3666}{lalign 3:**}{txt} {space 1}
{res}{txt}{space 4}B1_L3_sd {c |}{res} {ralign 9:-0.0294}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}B2_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0506}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}B3_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.2192}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}B4_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.0316}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}B5_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.3477}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}B6_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0840}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}B7_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.0003}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 4}B8_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0413}{lalign 3:}{txt} {space 1}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:104.9945}{lalign 3:***}{txt} {space 1}{res} {ralign 9:87.8283}{lalign 3:***}{txt} {space 1}{res} {ralign 9:78.6865}{lalign 3:***}{txt} {space 1}{res} {ralign 9:97.3370}{lalign 3:***}{txt} {space 1}{res} {ralign 9:98.5880}{lalign 3:***}{txt} {space 1}{res} {ralign 9:90.5799}{lalign 3:***}{txt} {space 1}{res} {ralign 9:95.6813}{lalign 3:***}{txt} {space 1}{res} {ralign 9:-14.1108}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.5699}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5699}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5776}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5689}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5698}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5696}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5687}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5726}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2_a} {c |}{res} {ralign 9:0.5627}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5627}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5705}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5617}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5627}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5624}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5615}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.5655}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:F} {c |}{res} {ralign 9:3.3699}{lalign 3:}{txt} {space 1}{res} {ralign 9:2.6901}{lalign 3:}{txt} {space 1}{res} {ralign 9:4.5033}{lalign 3:}{txt} {space 1}{res} {ralign 9:3.8262}{lalign 3:}{txt} {space 1}{res} {ralign 9:3.8384}{lalign 3:}{txt} {space 1}{res} {ralign 9:2.3235}{lalign 3:}{txt} {space 1}{res} {ralign 9:3.7305}{lalign 3:}{txt} {space 1}{res} {ralign 9:2.1323}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 134:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
.                 ******* reghdfe LOG w/ country and cell fixed-effects ******
.                                         
. estimates table  log_fe2_B* , b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:log_fe2_B1} {space 1} {center 12:log_fe2_B2} {space 1} {center 12:log_fe2_B3} {space 1} {center 12:log_fe2_B4} {space 1} {center 12:log_fe2_B5} {space 1} {center 12:log_fe2_B6} {space 1} {center 12:log_fe2_B7} {space 1} {center 12:log_fe2_B8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 3}log_L3_sd {c |}{res} {ralign 9:0.3179}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3177}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3159}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3252}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3232}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.2919}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3183}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3304}{lalign 3:***}{txt} {space 1}
{res}{txt}log_B1_L3_sd {c |}{res} {ralign 9:0.0732}{lalign 3:**}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_B2_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1029}{lalign 3:*}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_B3_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0975}{lalign 3:*}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_B4_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.0112}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_B5_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0153}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_B6_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1885}{lalign 3:***}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_B7_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0794}{lalign 3:*}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}log_B8_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1175}{lalign 3:*}{txt} {space 1}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:0.4159}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.4326}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.4916}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.6224}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.6103}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.4469}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.5247}{lalign 3:***}{txt} {space 1}{res} {ralign 9:-0.2342}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.8844}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8856}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8850}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8831}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8831}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8903}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8843}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8834}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2_a} {c |}{res} {ralign 9:0.8825}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8837}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8831}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8811}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8811}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8884}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8823}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8815}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:F} {c |}{res} {ralign 9:12.0922}{lalign 3:}{txt} {space 1}{res} {ralign 9:8.5732}{lalign 3:}{txt} {space 1}{res} {ralign 9:8.7440}{lalign 3:}{txt} {space 1}{res} {ralign 9:10.7753}{lalign 3:}{txt} {space 1}{res} {ralign 9:8.7777}{lalign 3:}{txt} {space 1}{res} {ralign 9:10.2960}{lalign 3:}{txt} {space 1}{res} {ralign 9:11.3855}{lalign 3:}{txt} {space 1}{res} {ralign 9:20.8215}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 134:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
.                 ******* reghdfe IHS w/ country and cell fixed-effects ******
. 
. estimates table  ihs_fe2_B* , b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:ihs_fe2_B1} {space 1} {center 12:ihs_fe2_B2} {space 1} {center 12:ihs_fe2_B3} {space 1} {center 12:ihs_fe2_B4} {space 1} {center 12:ihs_fe2_B5} {space 1} {center 12:ihs_fe2_B6} {space 1} {center 12:ihs_fe2_B7} {space 1} {center 12:ihs_fe2_B8} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 3}ihs_L3_sd {c |}{res} {ralign 9:0.3021}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3004}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.2992}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3074}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3053}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.2817}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3019}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.3123}{lalign 3:***}{txt} {space 1}
{res}{txt}ihs_B1_L3_sd {c |}{res} {ralign 9:0.0618}{lalign 3:**}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_B2_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0988}{lalign 3:*}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_B3_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0896}{lalign 3:*}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_B4_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.0201}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_B5_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0166}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_B6_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1807}{lalign 3:***}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_B7_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.0747}{lalign 3:*}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}ihs_B8_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1246}{lalign 3:}{txt} {space 1}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:0.5162}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.5064}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.5766}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.7254}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.7030}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.5195}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.6097}{lalign 3:***}{txt} {space 1}{res} {ralign 9:-0.2777}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.8838}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8852}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8845}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8829}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8829}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8895}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8839}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8832}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2_a} {c |}{res} {ralign 9:0.8819}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8833}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8826}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8809}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8809}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8877}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8820}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8813}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:F} {c |}{res} {ralign 9:10.5896}{lalign 3:}{txt} {space 1}{res} {ralign 9:7.6279}{lalign 3:}{txt} {space 1}{res} {ralign 9:7.6718}{lalign 3:}{txt} {space 1}{res} {ralign 9:10.9110}{lalign 3:}{txt} {space 1}{res} {ralign 9:7.7566}{lalign 3:}{txt} {space 1}{res} {ralign 9:9.3594}{lalign 3:}{txt} {space 1}{res} {ralign 9:10.5342}{lalign 3:}{txt} {space 1}{res} {ralign 9:21.1395}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 134:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
. 
.                 ******* reghdfe for product count as outcome *************
. /* 
> 
>                 ******* reghdfe LEVEL w/ country and cell fixed-effects ******
>                                         
> estimates table feC_B*, b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
> 
>                 ******* reghdfe LOG w/ country and cell fixed-effects ******
>                                         
> estimates table  log_feC_B* , b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
> 
>                 ******* reghdfe IHS w/ country and cell fixed-effects ******
> 
> estimates table  ihs_feC_B* , b(%9.4f) stats(N r2 r2_a F) star(0.10 .05 .01)
> 
> */ 
. 
. log close 
      {txt}name:  {res}<unnamed>
       {txt}log:  {res}R:\WSV2\TBu_AKe\Spatial_NEW\spatial_6_regs_s_2703.smcl
  {txt}log type:  {res}smcl
 {txt}closed on:  {res}29 Mar 2023, 11:07:57
{txt}{.-}
{smcl}
{txt}{sf}{ul off}